US manufacturing dips, but still grows 16th month in row
Dec 01, 2010 | 12:41 PM
| Corinna Petry
The U.S. manufacturing sector eased slightly in November but still managed to chalk up its 16th consecutive month of expansion as it leads the economy out of recession.
The Purchasing Managers Index for November, at 56.6 percent, was 0.3 points below October's 56.9 percent, the Institute for Supply Management (ISM) said Wednesday. That's little changed from the 12-month average of 57.1 percent. A reading above 50 indicates growth.
ISM's monthly survey of member companies found that inventories grew month on month in November, although production, new orders and prices fell.....
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