Economic activity in the
US manufacturing sector expanded in
December for the 29th consecutive month, and the
grew for the 31st consecutive month, America's supply executives said in in the
latest Manufacturing ISM Report On Business.
Separately, spending on construction projects in the US climbed during November
more than expected as builders try to make progress amid a sluggish economy.
Bradley J. Holcomb, chair of the Institute for Supply Management
Manufacturing Business Survey Committee commented: today. "The PMI (Purchasing
Managers' Index) registered 53.9%, an increase of 1.2 percentage points
from November's reading of 52.7%, indicating expansion in the manufacturing
sector for the 29th consecutive month.
The New Orders Index increased 0.9 percentage point from November to 57.6%,
reflecting the third consecutive month of growth after three months of
contraction. Prices of raw materials continued to decrease for the third
consecutive month, with the Prices Index registering 47.5%, which is 2.5
percentage points higher than the November reading of 45%. Manufacturing is
finishing out the year on a positive note, with new orders, production and
employment all growing in December at faster rates than in November, and with an
optimistic view toward the beginning of 2012 as reflected by the panel in this
Performance by Industry
Of the 18 manufacturing industries, nine are reporting growth in December, in
the following order: Apparel, Leather & Allied Products; Printing & Related
Support Activities; Textile Mills; Petroleum & Coal Products; Machinery; Food,
Beverage & Tobacco Products; Computer & Electronic Products; Primary Metals; and
Paper Products. The nine industries reporting contraction in December — listed
in order — are: Plastics & Rubber Products; Nonmetallic Mineral Products;
Furniture & Related Products; Chemical Products; Wood Products; Miscellaneous
Manufacturing; Fabricated Metal Products; Transportation Equipment; and
Electrical Equipment, Appliances & Components.
Construction spending rose by 1.2% to a
seasonally adjusted annual rate of $807.11bn, the Commerce Department said
Tuesday. The broad-based rise included gains in residential and nonresidential
The 1.2% jump in was much better than expected.
However, spending in October was revised sharply down, to a drop of 0.2% from an
originally estimated gain of 0.8%. And for the year, construction spending was
up just 0.5% compared with November 2010.
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