ISM Manufacturing Index for November Declines

n index of U.S. manufacturing fell in November following the two fastest-growing months of the year, the Institute for Supply Management reported Thursday.

ISM’s November factory index fell to 58.1 from 59.1 in October, the group said in its monthly report.

eadings higher than 50 indicate growth, and manufacturing has shown expansion since May 2003.

ISM’s prices-paid index fell to 74, the lowest since August, as gasoline and diesel fuel prices fell.

The new orders index, which makes up about a third of the total index, fell to 59.8 from 61.7 in October. The production index, a measure of work being performed, fell to 60.6 from 62

“While energy costs and supply interruptions remain a concern, purchasers are satisfied in general with current business conditions,”\" said Norbert Ore, chairman of ISM’s manu-facturing committee.

ISM’s employment index rose to 56.6, from 55 in October. The inventories index rose to 49.3 to 48.1, while new export orders rose to 59.2 from 54.8.

ISM, headquartered in Tempe, Ariz., surveys more than 400 companies in 20 industries, including transportation, to compile its index.