Economy
December 2, 2013
November ISM PMI Reading Highest of the Year
Written by Sandy Williams
The November ISM Report for November 2013 indicated expansion in the manufacturing sector for the sixth consecutive month and the highest PMI (purchasing mangers index) reading for the year. The PMI registered 57.3 percent, up from 56.4 percent in October. Indices for new orders, production, employment and exports picked up their pace of growth in November. Imports growth slowed slightly last month along with growth in prices and inventories.
A PMI in excess of 42.2 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the November PMI indicates growth for the 54th consecutive month in the overall economy.
