Manufacturing index shows strength in November   

The Institute of Supply Management reported that the Purchasing Managers' Index (PMI) gained 1.9 points to 52.7 in November from 50.8 in October. This represents 28 consecutive months of growth, and creates a little breathing room as the index had been perilously close to 50 for four months. A PMI over 50 indicates growth while a PMI under 50 indicates contraction in the manufacturing sector of the economy. The index reached a low of 32.5 in December 2008 but then recovered more quickly than other areas of the economy. Manufacturing has been a bright spot in the economy and the dramatic drop in the prior few months was a cause for concern. The vertical bars in the graph represent recessions.