US Manufacturing Industry Retains Momentum In November

According to the Institute for Supply Management (ISM), the US Manufacturing Index dropped to 58.7 in November 2014. While that is a lower index than October’s high of 59, any rating over 50 indicates that the economy is showing growth.

According to Reuters, the ISM survey also showed that new orders increased to their highest level since August, while export order growth also continued. Additionally, the employment market within the manufacturing industry continued to show growth, with Reuters reporting,

While a measure of factory employment ebbed a bit in November, it remained consistent with solid job growth. Electrical equipment, appliances and components manufacturers said they continued to hire people.

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