ISM November Index at 50.8, Down From 50.9 in October

The overall economy grew for the 73rd straight month, while the manufacturing sector expanded for the 10th time in a row, the Institute for Supply Management reported yesterday. According to the ISM’s monthly report on business, its index decreased to 50.8 in November from 50.9 in October.Economists polled by IFR Markets predicted the index would slip to 50.4.The closely watched prices paid index climbed to 67.5 from 63.0. The employment index was at 47.8, down from 52.0 in month before. The production index increased to 51.9 from 49.6, the new orders index inched up to 52.6 from 52.5, the supplier deliveries index increased to 51.7 from 50.6, the export orders index rose to 58.5 from 57.0, and the imports index remained 47.5. The inventories index decreased to 46.9 from 47.2, the customers’ inventories index fell to 49.0 from 54.0, and backlog of orders decreased to 41.5 from 46.0.