ISM: Manufacturing stronger
February 1, 2012
Economic activity in the manufacturing sector expanded in January for the 30th consecutive month, according to the Institute for Supply Management. ISM’s closely watched composite index of manufacturing activity — known as the PMI — rose 1 percentage point to 54.1%, indicating faster growth for the sector overall. The new orders index — perhaps the component index most indicative of near-term freight shipments — gained 2.8 points to 57.6%. Growth in production, however, slowed, although it remains strong at an index level of 55.7%.
Manufacturing is starting out the year on a positive note, with new orders, production and employment all growing in January,” says Bradley Holcomb, chair of ISM’s Manufacturing Business Survey Committee.
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