U.S. manufacturing grew for fourth month in a row in November

The U.S. manufacturing sector notched another decent month as activity in the nation's factories continued to expand in November, though at a slower pace than in the previous month, the Institute for Supply Management announced Tuesday.

The ISM said its manufacturing index fell to 53.6 in November from 55.7 in October, but the index remained in expansion territory for the fourth-straight month. Index numbers above 50 indicate an expansion; under 50, a contraction. Prior to the current four-month stretch above 50, the manufacturing index had been below 50 for about 2 years. The consensus of economists surveyed by Bloomberg News had been that the index would fall to 55.0 in November.