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TEMPE, AZ -- US manufacturing activity expanded in November for the 28th consecutive month, a monthly survey of supply executives revealed today.

The PMI index of manufacturing activity was 52.7%, up 1.9 percentage points from October. New Orders increased 4.3 percentage points to 56.7%, the second straight month of growth after three months of contraction. A reading above 50% indicates that the manufacturing economy is generally expanding.

The report was issued today by the Institute for Supply Management Manufacturing.

Prices rose relative to October but remained on a deflationary slide as the Prices Index came in at 45%, five points below the 50% indicating overall inflation. Commodities that rose in price included copper and electronic components.

"Respondents cite continuing concerns about the general economic environment, government regulations and European financial conditions, but are cautiously more optimistic about the next few months based on lower raw materials pricing and favorable levels of new orders," said ISM spokesperson Bradley J. Holcomb.

Computer & Electronic Products was among the eight manufacturing industries reporting growth in November.

The overall economy grew for the 30th consecutive month in November.

MANUFACTURING AT A GLANCE
NOVEMBER 2011

Index

Series
Index
Nov

Series
Index
Oct

Percentage
Point
Change

Direction

Rate of
Change

Trend(a)
(Months)

PMI 52.7 50.8 +1.9 Growing Faster 28
New Orders 56.7 52.4 +4.3 Growing Faster 2
Production 56.6 50.1 +6.5 Growing Faster 3
Employment 51.8 53.5 -1.7 Growing Slower 26
Supplier Deliveries 49.9 51.3 -1.4 Faster From Slowing 1
Inventories 48.3 46.7 +1.6 Contracting Slower 2
Customers’ Inventories 50.0 43.5 +6.5 Unchanged From Too Low 1
Prices 45.0 41.0 +4.0 Decreasing Slower 2
Backlog of Orders 45.0 47.5 -2.5 Contracting Faster 6
Exports 52.0 50.0 +2.0 Growing From Unchanged 1
Imports 49.0 49.5 -0.5 Contracting Faster 2
OVERALL ECONOMY

 

Manufacturing Sector

Growing Faster 30
Growing Faster 28

(a) Number of months moving in current direction

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