U.S. manufacturing shows signs of renewed strength

@CNNMoney December 1, 2011: 10:44 AM ET

NEW YORK (CNNMoney) -- After coming close to stagnation in recent months, U.S. manufacturing growth strengthened in November amid a wave of new orders, a purchasing managers' group said Thursday.

The Institute for Supply Management's (ISM) purchasing managers' index (PMI) rose to 52.7 from 50.8 in October. Any reading above 50 indicates expansion in the sector.

It was the 28th consecutive month of expansion, according to ISM. But the reading was the highest since June as growth was starting to flag -- four of the five prior readings were less than a point above the expansion-contraction line.

U.S. manufacturers managed to "shrug off the apparent sharp slowdown in growth in Asia and what looks like a renewed recession in Europe," wrote Paul Ashworth, chief U.S. economist for Capital Economics, in a market report.

The improvement was highlighted by a 4.3 point rise in the new orders component to 56.7. It was the second consecutive month of growth in new orders, after three months of decline.

Chinese manufacturing slows down

Industrial production jumped 6.5 points to 56.6. Exports rose 2 points, pushing them into the growth zone of 52%.

The U.S. manufacturing trend contrasts with the one in the world's fastest-growing major economy: China. A report released Thursday showed Chinese manufacturing contracted in November, coming in at the lowest level since 2009.  To top of page

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