The Institute for Supply Management (ISM) reported continued growth of manufacturing activity in November, despite various challenges.
While factors like new orders, production, and prices grew at a slower rate than in October, backlog orders and new export orders grew faster than the previous month.
Of 18 surveyed manufacturing industries, 16 reported growth, with apparel and leather, nonmetallic mineral products, and textile mills reporting the strongest growth. Printing-related and petroleum manufacturers reported contraction.
Reported labor market difficulties of COVID-related absenteeism and skilled-worker shortages will continue to hinder manufacturing growth, but growth is still anticipated.
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