ISM report: another month of growth
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Manufacturing News, Source : TheManufacturer.com
Published : 02 Feb 2004 17:13
In January, economic activity in the manufacturing sector grew yet again, making it seven consecutive months of growth, and the overall economy grew for the 27th consecutive month, according to the ISM's Report On Business released today.
"The manufacturing sector gained momentum in January as the PMI continued to accelerate," said Norbert J. Ore, C.P.M., chair of ISM's Business Survey Committee, in his monthly statement. "Both New Orders and Production remain quite strong, indicating that the manufacturing sector is experiencing a much-needed recovery. The Prices Index accelerated significantly as the metals and energy categories showed significant price volatility."
ISM's PMI registered 63.6 percent in January, an increase of 0.2 percentage point when compared to the seasonally-adjusted 63.4 percent in December. ISM's New Orders Index declined 2 percentage points from 73.1 percent in December to 71.1 percent in January. ISM's Production Index rose 1.9 percentage points from 69.2 percent in December to 71.1 percent in January. The ISM Employment Index is at 52.9 percent for January, a decrease of 0.6 percentage point when compared to the 53.5 percent reported in December.
ISM's Supplier Deliveries Index registered 60.4 percent, 1.8 percentage points higher than December's 58.6 percent. ISM's Inventories Index registered 48.9 percent in January, up from the 46.3 percent reported in December. ISM's Customers' Inventories Index for January is at 40 percent, an increase of 1 percentage point compared to the December reading of 39 percent. ISM's Prices Index in January is 75.5 percent, 9.5 percentage points higher than the 66 percent reported in December.
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