US Manufacturing sector grows for second consecutive month

Manufacturing News, Source : TheManufacturer.com
Published : 09 Apr 2002 8:43

Statistics for the month of March validate the turnaround for US manufacturing, according to the the latest Manufacturing ISM Report On Business, which also noted that March was the fifth consecutive month of growth for the overall US economy.

While growth in production slowed, new orders rose to the highest level since 1986.

ISM was also encouraged by a slowing decline in manufacturing employment and noted that some businesses are starting to rehire. ISM reported that order backlogs grew for the second consecutive month, export orders grew for the third straight months, and manufacturers experienced higher prices for the first time after 12 straight months of lower prices.

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