The manufacturing sector continued to expand in November, the 28th consecutive month of expansion, according to the latest Manufacturing ISM Report on Business. According to the Institute for Supply Management, the Purchasing Managers Index was 52.7 percent, 1.9 percentage points higher than October’s reading.
“A very strong improvement in new orders and production paints a rosy picture for near-term manufacturing activity,” said Daniel J. Meckstroth, chief economist for MAPI.