The U.S. manufacturing sector in November is showing strong production growth as factories continue to struggle with pandemic-related shortages of raw materials and labor, along with inflation, according to the Institute for Supply Management (ISM). The ISM’s December report shows that the index of national factory activity rose from 60.8 in October to a reading of 61.1 last month, with its forward-looking new orders sub-index climbing to a reading of 61.5 last month from 59.8 in October. American manufacturers have recorded 18 straight months of growth since the spring of 2020 contraction at the outbreak of the pandemic. While long delivery times kept inflation high, the prices paid by manufacturers continued to decline in October, falling to 82.4 from a reading of 85.7 the month before. The ISM survey’s measure of supplier deliveries in November declined to a reading of 72.2 from 75.6 in October. The simultaneous economic recovery from the pandemic has …
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