The US manufacturing sector expanded in
January for the second straight month, and the overall economy
grew for the 44th consecutive month, say the nation's supply executives in the
latest Manufacturing ISM Report On Business.
Bradley J. Holcomb, chair of the
Institute for Supply Management Manufacturing Business Survey Committee said: "The
PMI (Purchasing Managers' Index) registered 53.1%, an increase of 2.9 percentage points from
December's seasonally adjusted reading of 50.2%, indicating expansion in
manufacturing for the second consecutive month.
The New Orders Index registered
53.3%, an increase of 3.6% over December's seasonally adjusted
reading of 49.7%, indicating growth in new orders. Manufacturing is
starting out the year on a positive note, with all five of the PMIs component
indexes - - new orders, production, employment, supplier deliveries and
inventories - - registering above 50% in January."
Of the 18 manufacturing industries, 13 reported growth in January in the
following order: Plastics & Rubber Products; Textile Mills; Furniture & Related
Products; Printing & Related Support Activities; Apparel, Leather & Allied
Products; Electrical Equipment, Appliances & Components; Miscellaneous
Manufacturing; Fabricated Metal Products; Transportation Equipment; Petroleum &
Coal Products; Machinery; Primary Metals; and Food, Beverage & Tobacco Products.
The four industries reporting contraction in January are: Nonmetallic Mineral
Products; Computer & Electronic Products; Wood Products; and Chemical Products.
Separately, the final Markit US Manufacturing
Purchasing Managers’ Index (PMI) signalled a strong expansion of the US
manufacturing sector at the start of 2013. Moreover, at 55.8, below the earlier
flash estimate of 56.1 but higher than that recorded in December (54.0), the PMI
signalled the fastest rate of growth in nine months.
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