TEMPE, AZ -- US manufacturing activity expanded in November for the 28th consecutive month, a monthly survey of supply executives revealed today.

The PMI index of manufacturing activity was 52.7%, up 1.9 percentage points from October. New Orders increased 4.3 percentage points to 56.7%, the second straight month of growth after three months of contraction. A reading above 50% indicates that the manufacturing economy is generally expanding.

The report was issued today by the Institute for Supply Management Manufacturing.

Prices rose relative to October but remained on a deflationary slide as the Prices Index came in at 45%, five points below the 50% indicating overall inflation. Commodities that rose in price included copper and electronic components.

"Respondents cite continuing concerns about the general economic environment, government regulations and European financial conditions, but are cautiously more optimistic about the next few months based on lower raw materials pricing and favorable levels of new orders," said ISM spokesperson Bradley J. Holcomb.

Computer & Electronic Products was among the eight manufacturing industries reporting growth in November.

The overall economy grew for the 30th consecutive month in November.

(a) Number of months moving in current direction

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