US manufacturing advanced again in November with exports signaling faster growth

December 1, 2020 – Economic activity in the manufacturing sector grew again in November, with the overall economy notching a seventh consecutive month of growth, say the nation’s supply executives in today’s Institute of Supply Management (ISM) Report On Business.

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ISM’s New Export Orders Index soared to 57.8 percent in November, an increase of 2.1 percentage points compared to the October reading of 55.7 percent.

“The New Export Orders Index grew for the fifth consecutive month and at a faster rate, reaching its highest level since March 2018 (58.7 percent).” according to Timothy Fiore of the ISM.

ISM’s Imports Index registered 55.1 percent in November, a decline of 3 percentage points compared to the 58.1 percent reported for October. “Imports expanded for the fifth consecutive month, at a slower rate, reflecting continued increases in US factory demand, but at slower rates,” said Mr. Fiore.

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