ISM Manufacturing PMI rises to 61.1 in November, in line with expectations

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• November ISM Manufacturing Index: 61.1 vs. 61.1 expected and 60.8 prior. The measure indicates that economic activity in the manufacturing sector grew for the 18th straight month.
• New Orders: 61.5 vs. 59.8 in October.
• Production: 61.5 from 59.3.
• Employment to 53.3 from 52.0.
• Supplier Deliveries to 72.2 from 75.6.
• Backlog of Orders Index, at 61.9%, drops 1.7 percentage points from 63.6 in October and the Inventories Index registered 56.8, up from 57.0.
• "The U.S. manufacturing sector remains in a demand-driven, supply chain-constrained environment, with some indications of slight labor and supplier delivery improvement," said Timothy Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee.
• "All segments of the manufacturing economy are impacted by record-long raw materials and capital equipment lead times, continued shortages of critical lowest-tier materials, high commodity prices and difficulties in transporting products," he added.
• Each of the six biggest manufacturing industries — computer and electronic products; food, beverage and tobacco products; chemical products; petroleum and coal products, fabricated metal products; and transportation equipment — showed moderate to strong growth in November, Fiore said.
• Earlier, ADP jobs roughly in line in November