U.S. manufacturing activity posted its forth consecutive month of growth in November as demand from overseas continues to increase. The Institute for Supply Management (ISM) Index — a measure that tracks how the manufacturing sector of the US economy is doing — came in at 53.6%, suggesting that the rise in export orders reflects dollar and global growth influences.
ISM: “While the rate of growth slowed when compared to October, the signs are still encouraging for continuing growth as both new orders and production are still at very positive levels, and the Prices Index fell 10 points, signaling less inflationary pressure on manufacturers’ costs. Overall, the recovery in manufacturing is continuing, but many are still struggling based on their comments.”
WHAT RESPONDENTS ARE SAYING ..
- “Becoming concerned about the value of the U.S. dollar.” (Apparel, Leather & Allied Products)
- “Low value of the dollar driving commodity costs higher.” (Food, Beverage & Tobacco Products)
- “Demand from automotive manufacturers remains strong and building.” (Fabricated Metal Products)
- “Capital construction seems to be picking up, and we are seeing more jobs that are bid out.” (Electrical Equipment, Appliances & Components)
- “Steady increase in business.” (Primary Metals)