Manufacturing Continues Growth at Slower Pace

Washington, DC, Dec. 1, 2010 -- Manufacturing grew for the 16th straight month in November, though at a slightly slower pace than the previous month, according to the Institute for Supply Management.

The ISM index of manufacturing activity dropped to 56.6 in November, down from 56.9 in October. Any reading over 50 indicates growth. Wall Street analysts expected a steeper drop.

New orders and production also grew at a slower pace. Exports are benefiting from a cheaper dollar. The export index grew, but not as quickly as in October, the ISM said.