The pace of growth for Industrial Supply Association (ISA) members slowed compared to last month.
The pace of growth for Industrial Supply Association (ISA) members slowed compared to last month, but the ISA Manufacturer Index has remained in positive territory for 11 straight months, according to the monthly Economic Indicator Report (EIR) from ISA.
The ISA Manufacturer Index declined from 66.7% in October to 62.0% in November, while the Distributor Index decreased from 70.9% in October to 58.5% in November. For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction.
“The results for manufacturers of cutting tools mirrored overall results, as the Cutting Tools Manufacturer Index declined from 62.4% in October to 58.6% in November,” said John Buckley, ISA executive vice president.