PMI shows increased growth for Midwest manufacturers
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Manufacturing News, Source : TheManufacturer.com
Published : 19 Feb 2003 23:27
Midwest manufacturing activity experienced a healthy increase during January, the largest since May 2002.
The National Association of Purchasing Management- Chicago index (PMI) increased to 56.0, following a revised reading of 51.7 in December. A reading above 50 indicates an economic expansion, while a reading below signifies contraction. The reading surpassed analysts’ expectations.
They were encouraging numbers, said Gary Thayer, chief economist at AG Edwards. I think this suggests the economy is strengthening going into the first quarter, he said.
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