Index shows manufacturing recovery on hold
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Manufacturing News, Source : TheManufacturer.com
Published : 19 Dec 2002 22:00
Employment in the manufacturing sector showed little change during November, while orders for consumer and capital goods decreased, according to the Conference Board’s latest index of leading economic indicators.
With an increase of 0.7% in November, It was the largest monthly increase since December 2001 and the first increase since May.
“Today’s report shows that manufacturing hours worked remained stagnant in November, while orders for both consumer and capital goods fell,” said Jerry Jasinowski, president of the National Association of Manufacturers. “This indicates that the manufacturing recovery, which as edged up just 1.9% in the first 11 months of the year, will not likely accelerate before year’s end.”
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