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

steel_manufacturing.ju.03.jpg

"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

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 18,132.70 -81.72 -0.45%
Nasdaq 4,963.53 -24.36 -0.49%
S&P 500 2,104.50 -6.24 -0.30%
Treasuries 2.00 -0.01 -0.69%
Data as of 8:21pm ET
Company Price Change % Change
Bank of America Corp... 15.81 -0.23 -1.43%
Apple Inc 128.46 -1.96 -1.50%
General Electric Co 25.99 0.10 0.39%
Microsoft Corp 43.85 -0.20 -0.47%
Chesapeake Energy Co... 16.68 -0.52 -3.02%
Data as of Feb 27
Sponsors

Sections

Bus drivers for Apple, Yahoo, Amtrak, eBay, Genentech and Zynga have unionized, following in the footsteps of drivers who shuttle Facebook employees. More

Potential presidential candidate says that improvement in unemployment rate is due to millions of jobless not being counted. More

The top 5 consumer complaints have to do with identity theft, debt collectors, imposters, telephone companies and banks. More