ISM Manufacturing index shows growing manufacturing activity in November

Manufacturing is growing at a healthy pace, per the November ISM manufacturing index. New orders came in at 56.6.  Anything above 50 is considered strong and October's numbers were also very strong at 58.9.  ISM's sample is showing commitment to their businesses, continuing to add employees. The 57.5 index level for employment is very strong for this reading.

Manufacturing is strong in this report, however the problem is, manufacturing does not make as significant of a percentage of the economy as it used to.  So employment in manufacturing is up, but what we could really use is a pickup in our services as well.  Since software and labor costs are the major input for services, we won't see the kind of pickup in services unless wages come down. 

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