ISM says US manufacturing is improving
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Manufacturing News, Source : TheManufacturer.com
Published : 03 Feb 2003 20:50
In its latest manufacturing Report on Business, the Institute of Supply Management (ISM) stated that economic activity in the manufacturing sector grew for the third month in January, while its national purchasing manager’s (PM) index decreased 1.3% to 53.9% and its New Orders index dropped 3.2% to 59.7%.
The overall economy grew for the fifteenth consecutive month.
“The manufacturing sector continued its growth trend in January, although the rate of growth slowed when compared to December,” said Norbert Ore, chair of ISM’s Manufacturing Business Committee Survey. “It is encouraging that New Orders continued strong in January. Production also fared well, providing cause for optimism for an improving economy in the first quarter.”
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