November Good for U.S. Manufacturing

The Institute for Supply Management’s November PMI, a closely-watched indicator of national manufacturing strength, registered 58.2 in November indicating growth for the 15th consecutive month (a reading above 50 indicates growth).  Although the PMI eased 0.5 points from October, it was still above the averages for the last 12 months and 2017.  Production was up 2.9 points to 63.9 and New Orders increased 0.6 points to 64.0.  Selected quotes from survey respondents indicated:

“Backlog increasing and capacity at suppliers tightening” (Machinery)

“Seeing steady, consistent demand for end of year” (Fabricated Metal)

“Continuing to see more orders for the next six to 12 months” (Chemicals)

“We have not experienced the typical seasonal slowdown” (Plastics & Rubber)