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US manufacturing beats estimates in Nov

by ChemOrbis Editorial Team -
  • 02/12/2014 (13:57)
US manufacturing grew at a faster pace than expected in November owing to higher new orders and overall production levels, according to data from the US Institute for Supply Management (ISM).

The ISM’s manufacturing index decreased to a reading of 58.7, posting a slight decrease when compared to October’s reading of 59. However, November’s reading still stands above the initial estimates, which called for a decrease to 58 in a survey conducted by Bloomberg. Any reading above 50 indicates expansion.

ISM’s measure of orders increased to a reading of 66 from the reading of 65.8 reported in October while exports also climbed to a reading of 55 from 51.5 in previous month. ISM’s measure of production decreased to 64.4 from a reading of 64.8.
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