WASHINGTON (AP) — U.S. manufacturers expanded at a faster pace in November as new orders surged, a positive sign for economic growth heading into 2019.
The Institute for Supply Management, an association of purchasing managers, says its manufacturing index rose to 59.3 last month from 57.7 in October. Readings above 50 point to growth and manufacturers have expanded for the past 27 months.
New orders jumped in November, while production and employment also saw gains.
Out of 18 industries, 13 reported growth last month, including computer and electronic products, textiles, food and beverages and transportation equipment.