By Mel Fabrikant Monday, December 02, 2013, 03:40 PM EST
This morning the ISM Manufacturing Index unexpectedly rose from 56.4 to 57.3 in November, the highest reading since April 2011. The index was widely expected to decline amid projections of further restrictive domestic demand.
Headline ISM with 6month moving average
In the details, production rose from 60.8 to 62.8 and new orders improved from 60.6 to 63.6 in November. The backlog of orders gained from 51.5 to 54.0 and new export orders increased from 57.0 to 59.5. Even employment continued to gain momentum rising to 56.5 after falling more than two points to 53.2 in October. Imports also continued to expand in November albeit at a slightly slower pace, slowing from 55.5 to 55.0.