Production Pace Dipped Slightly in Nov., Survey Says
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NEW YORK — The economy continued to surge in November, with employment increasing at its strongest rate in a year, but production grew at a slightly slower pace, according to the National Assn. of Purchasing Management, which tracks the strength of the economy with a monthly survey of purchasing executives at 250 firms. The group’s index dipped to 56.6% from October’s 56.8%, but still indicated a robust economy.
A reading above 50 indicates that the economy is generally expanding, while less than 50 indicates contraction.
Twenty-seven percent of the respondents reported that production was up, compared to 26% in October. Fifty-eight percent, compared to October’s 65%, said production was the same, but 15% said production was slower, compared to 9% the previous month.
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