US manufacturing & economy grew faster in November. Exports & imports stabilized at growth levels.

December 4, 2018 – According to the November Institute for Supply Management’s (ISM) “Report on Business”, the overall US economy and manufacturing sector grew faster than the October reading, while new export orders and imports continued to exhibit growth.

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November exports reclaimed its October reading of 52.0 and imports grew more slowly at a reading of 53.6 compared to October’s 54.3. Any reading of 50.0 or higher indicates growth.

“The strength of US manufacturing is stimulating our economy,” said Fred Baehner, IBNewsmag publisher, “and that along with a softening of the dollar against many foreign currencies in the second half of November helped sustain exports. We can expect an increase of imports in the next few months in the wake of President Trump’s temporary suspension of specified Chinese import tariffs announced after the G-20 summit.”

The ISM report indicated that the growth in the manufacturing sector grew in November for the 27th consecutive month, led by strong new orders, production output and a continued slowing of poor delivery performance. www.instituteforsupplymanagement.org

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