Mubasher: Economic activity in the US manufacturing sector grew at a faster pace in November, while the overall economy advanced for the 115th straight month, the Institute for Supply Management (ISM) said on Monday.

The US ISM PMI rose 1.6% to 59.3 in November, compared with the reading of 57.7% in October.

This is the 26th straight month of manufacturing expansion, driven by “strong new orders, production output and continued slowing supplier delivery performance,” chair of ISM business survey committee Timothy R. Fiore said.

A reading above 43.2% over a period of time, generally indicates an expansion of the overall economy, the ISM noted.

The index for new orders climbed 4.7% to 62.1% last month, compared with 57.4% in the prior month.

The production index came in at 60.6% in November, compared with 59.9% in the previous month, whereas the gauge for supplier deliveries dipped 1.3% to 62.5% from 63.8%.

By 2:59 pm GMT, the US dollar index fell 0.31% to 96.9670.