Manufacturing & The Economy
In November, the Institute for Supply Management’s (ISM) PMI registered 57.3%, an increase of 0.9% from October's reading of 56.4%. The PMI has increased progressively each month since June, with November's reading reflecting the highest PMI in 2013. The New Orders Index increased in November by 3% to 63.6%, and the Production Index increased by 2% to 62.8%. The Employment Index registered 56.5%, an increase of 3.3% compared to October's reading of 53.2%. This reflects the highest reading since April 2012 when the Employment Index registered 56.8%. With 15 of 18 manufacturing industries reporting growth in November relative to October, the positive growth trend characterizing the second half of 2013 is continuing.