ISM manufacturing report positive
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Manufacturing News, Source : TheManufacturer.com
Published : 01 Dec 2003 18:17
According to the Institute for Supply Management’s Report On Business released today, economic activity in the manufacturing sector grew yet again in November, making it five consecutive months of growth.
The overall economy grew for the 25th consecutive month.
“The manufacturing sector enjoyed its best month since December 1983,” said Norbert J. Ore, C.P.M., chair of ISM’s Business Survey Committee, in his monthly statement. “The big improvement is in Employment as the index rose above 50 percent, indicating growth, following 37 consecutive months of decline. The momentum is coming from continued strength in New Orders.”
Of the 20 industries in the manufacturing sector, 18 industries reported growth. ISM's PMI registered 62.8 percent in November, an increase of 5.8 percentage points when compared to 57 percent in October. ISM's New Orders Index rose 9.4 percentage points from 64.3 percent in October to 73.7 percent in November. ISM's Production Index rose 5.7 percentage points from 62.6 percent in October to 68.3 percent in November. The ISM Employment Index is at 51 percent for November, an increase of 3.3 percentage points when compared to the 47.7 percent reported in October.
ISM's Supplier Deliveries Index registered 56 percent, 2.1 percentage points higher than October's 53.9 percent. ISM's Inventories Index registered 50 percent in November, up from the 44.5 percent reported in October. ISM's Customers' Inventories Index for November is at 39.5 percent, an increase of 0.5 percentage point compared to the October reading of 39 percent. ISM's Prices Index in November is 64 percent, 5.5 percentage points higher than the 58.5 percent reported in October.
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