U.S. manufacturing expands for 16th month in a row

By Aaron Smith, staff writer


NEW YORK (CNNMoney.com) -- Manufacturing activity expanded for the 16th straight month in November, though growth slowed from October, a purchasing managers' group said Wednesday.

The Institute for Supply Management's index for manufacturing activity slipped to 56.6 in November from the prior month's index of 56.9. An index reading of more than 50 indicates manufacturing expansion

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"Manufacturing continues to benefit from the recovery in autos, but those industries reliant upon housing continue to struggle," said Norbert Ore, chair of the ISM Manufacturing Business Survey Committee.

The ISM said that most of its components tracking specific manufacturing activities -- such as new orders, production and employment -- , showed growth, though that growth was slowing.

The component for new orders slowed to 56.6 in November from 58.9 the prior month. Production slowed to 55 from 62.7 and employment slowed to 57.5 from 57.7. To top of page

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