U.S. Manufacturers Expand a Touch Slower In November: ISM

U.S. manufacturers expanded at a slightly slower but still robust pace in November, a survey of executives found. The Institute for Supply Management said its manufacturing index edged down to 58.7% last month from 59% in October. Economists polled by MarketWatch had expected the index to fall to 57.7%. Still, readings over 50% indicate more companies are expanding instead of shrinking. The employment gauge slipped 0.6 points to 54.9%. The ISM's new-orders index inched up 0.2 points to 66%. And production fell 0.4 points to 64.4%. Also of note: The export index jumped a surprising 3.5 points to 55% to match a four-month high, suggesting that faltering growth in Europe and Asia is not hurting U.S. companies yet

Copyright © 2014 MarketWatch, Inc.