Manufacturing in Nov up more than expected

Washington

MANUFACTURING in the US expanded in November at a faster pace than projected, signalling that the world's largest economy is rising above a global slowdown.

The Institute for Supply Management's (ISM's) factory index was little changed at 58.7 last month, the second-strongest level since April 2011, compared with 59 in October, the Tempe, Arizona-based group's reported on Monday. Readings greater than 50 indicate growth.

Orders over the past four months have been the strongest in a decade as growing demand from American consumers makes up for any letdown among foreign customers. Continued progress in the labour market and the plunge in petrol prices may give Americans an even greater ability to spend in co…