Economists had expected the index to rise to 94.5, according to a Thomson Reuters consensus estimate.
The Commerce Department says that wholesale inventories fell 0.4 percent, the largest drop in eight months.
The number of Americans filing for unemployment benefits fell from a five-month high last week, pointing to labor strength that underscores the economy's sustained momentum.
Duties on imports would hurt China, but they could hit many U.S. multinational corporations especially hard.
The bureau also said the number of hires and separations were little changed at 5.1 million and 4.9 million, respectively.
Banks should taper expectations for regulatory change from the Trump administration, the Goldman Sachs executive told CNBC's "Fast Money."
This time around, the "get tough on China" talk may be more than empty campaign rhetoric.
The Commerce Department said new orders for manufactured goods rose 2.7 percent after an upwardly revised 0.6 percent gain in September.
Gregory Mankiw, Harvard University, talks about the 'flip' side of trade deficits.
CNBC's Rick Santelli breaks down the latest data on trade, productivity and labor costs.
The index was expected to hit 52.2 for November, an increase from 51.90 in the prior month's reading.
Consumers had a more optimistic outlook about the economy, according to a monthly survey released Tuesday.
Brick-and-mortar retailers are embracing the online retail space and it's paying off, National Retail Federation CEO Matthew Shay says.
The Commerce Department said new home sales declined 1.9 percent to a seasonally adjusted annual rate of 563,000 units last month.
Richard Curtin, the survey's chief economist, called the results a "presidential honeymoon" after the victory of Republican Donald Trump.
September's sales pace was revised up to 5.49 million units from the previously reported 5.47 million units.
That's a slower growth rate than September's 0.2 percent increase.
CNBC's Rick Santelli breaks down the latest data on producer prices
The Commerce Department said on Tuesday business inventories edged up 0.1 percent after rising 0.2 percent in August.
CNBC's Steve Liesman has the update from Maine where Boston Fed President Eric Rosengren is answering questions on the economy.