Jeff Schuster

U.S. manufacturing activity increased for the fourth consecutive month in November, although at a slower rate as the nation fumbles its way toward recovery.

Meanwhile, the housing market showed further signs of strength in October, but nonresidential construction spending declined 1.5%.

The Institute for Supply Management said Tuesday that its index of manufacturing activity fell to 53.6 in November from 55.7 the prior month, although it remained above the key 50 level that indicates expansion. Although the employment and production components within the index slipped, new orders rebounded from an October decline and rose nearly two points to a level of 60.3.

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The Obama administration will announce a push today for a $5-billion boost to a tax credit for green manufacturing, along with a seven-point plan to slow job losses at U.S. manufacturers.

The plans come as Vice President Joe Biden hosts business leaders this afternoon to talk over ways to boost jobs in a sector that employs fewer Americans now than it did in World War II.

The administration’s plans tout U.S. manufacturing as a source of strength for the economy in areas such as fuel-efficient vehicles and biotechnology. But the plan faces several tough hurdles to taking effect, including international trade, government spending and relations with China.

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Oct. 16 (Bloomberg) — Industrial production in the U.S. rose more than three times as much as anticipated in September, putting manufacturing at the forefront of the emerging economic recovery.

The 0.7 percent increase in production at factories, mines and utilities exceeded every forecast of economists surveyed by Bloomberg News and followed gains of 1.2 percent in August and 0.9 percent in July, Federal Reserve figures showed today. Capacity utilization, which measures the proportion of plants in use, climbed to the highest level in seven months.

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