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U.S. Manufacturing Expanded at Fastest Pace in Seven Months

February 02, 2012, 08:00 AM
Filed Under: Economy

Economic activity in the manufacturing sector expanded in January for the 30th consecutive month, and the overall economy grew for the 32nd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey Committee said, "The PMI registered 54.1%, an increase of 1% from December's seasonally adjusted reading of 53.1%, indicating expansion in the manufacturing sector for the 30th consecutive month. The New Orders Index increased 2.8% from December's seasonally adjusted reading to 57.6%, reflecting the 33rd consecutive month of growth in new orders. Prices of raw materials increased for the first time in the last four months. Manufacturing is starting out the year on a positive note, with new orders, production and employment all growing in January."


Of the 18 manufacturing industries, nine are reporting growth in January, in the following order:
• Apparel, Leather & Allied Products
• Petroleum & Coal Products
• Machinery
• Computer & Electronic Products
• Transportation Equipment
• Miscellaneous Manufacturing
• Fabricated Metal Products
• Paper Products
• Primary Metal

The seven industries reporting contraction in January, listed in order are:
• Plastics & Rubber Products
• Furniture & Related Products
• Wood Products
• Chemical Products
• Food, Beverage & Tobacco Products
• Electrical Equipment, Appliances & Components
• Textile Mills

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