Manufacturing index rises in December
January 3, 2012
Economic activity in the manufacturing sector expanded for the 29th straight month in December, according to the Institute for Supply Management. ISM’s composite index known as the PMI rose 1.2 percentage points from November’s level to 53.9%. An index level above 50% generally indicates growth.
The New Orders Index increased 0.9 percentage point from November to 57.6%. ISM’s Production Index rose 3.3 points to 59.9%.
“Manufacturing is finishing out the year on a positive note, with new orders, production and employment all growing in December at faster rates than in November, and with an optimistic view toward the beginning of 2012 as reflected by the panel in this month’s survey,” says Bradley Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee.
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