Manufacturing Expands at Slower Rate in November
By Eric Morath
WASHINGTON -- A gauge of U.S. manufacturing activity cooled for the second straight month in November, after hitting its highest level in 13 years earlier this fall.
The Institute for Supply Management on Friday said its manufacturing index fell to 58.2 in November. Still, the reading shows the sector remains solidly in a growth mode. A reading above 50 indicates activity is expanding across the factory sector, while a number below 50 signals contraction.
Economists surveyed by The Wall Street Journal had expected a November reading of 58.0. The October level was 58.7. The September level of 60.8 was the highest for the index since May 2004.
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(END) Dow Jones Newswires
December 01, 2017 10:44 ET (15:44 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.