ISM Index Grows to 52.7, Up from 50.8 in October

The overall economy grew for the 30th straight time, while the manufacturing sector expanded for the 28th time, the Institute for Supply Management reported Thursday.

According to the institute's monthly report on business, the ISM index climbed to 52.7 in November from 50.8 in October.

Economists polled by Thomson Reuters predicted the index would increase to 52.0.

An index reading below 50 signals a slowing economy, while a level above 50 suggests expansion. A reading of 50 shows the sector was unchanged in the month.

The closely watched prices paid index jumped to 45.0 from 41.0.

The employment index was at 51.8, off from 53.5 the previous month.

The production index increased to 56.6 from 50.1, the new orders index grew to 56.7 from 52.4, and the supplier deliveries index dipped to 49.9 from 51.3.

The export orders index increased to 52.0 from 50.0 and the imports index slid to 49.0 from 49.5.

The inventories index grew to 48.3 from 46.7, the customers' inventories index grew to 50.0 from 43.5, and the backlog of orders slumped to 45.0 from 47.5.

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