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Supplier Survey Again Shows Manufacturing Growth In November

The latest monthly poll of U.S. supply executives indicated growth in the nation's manufacturing sector for the third consecutive month in November.

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The latest monthly poll of U.S. supply executives indicated growth in the nation's manufacturing sector for the third consecutive month in November.

The Institute for Supply Management's November Purchasing Managers' Index of 53.2 percent represented an increase of 1.3 percentage points compared to October and again remained above the 50 percent level, which reflects growth.

The indexes for both production and new orders also increased compared to October and eclipsed 50 percent for the third consecutive month.

The employment index indicated manufacturing job growth, although it declined from October levels.

Exports and imports each increased in the latest monthly survey, and the PMI reflected growth in the broader economy for the 90th consecutive month.

Raw materials continued to show smaller inventories and higher prices, while the index of order backlogs climbed but remained below the 50 percent threshold. Suppliers' deliveries also slowed once again in November.

ISM Manufacturing Business Survey Committee Chairman Bradley Holcomb said that supply executives noted "increasing demand, some tightness in the labor market and plans to reduce inventory by the end of the year."

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