NewsDesk Deals, Openings, Acquisitions, Partnerships, Orders, Expansions, Awards Manufacturing Growth Strengthens E
conomic activity in the US manufacturing sector ex- panded in November for the sixth consecutive month, while the overall economy grew for the 54th consecutive month, according to the Manufacturing ISM Report on Busi- ness released on Dec. 2.
The PMI registered 57.3%, an increase of 0.9 percent- age points from October’s reading of 56.4%. The PMI has increased each month since June, with November’s reading reflecting the highest reading of 2013.
The ISM report is based on a survey of purchasing and supply executives, and readings below 50 indicate contrac- tion, while those above 50 indicate expansion. Aside from the PMI, nine of the 10 indices tracked as part of the Manufacturing ISM Report on Business showed growth in November. That included: New Orders (63.6%), Production (62.8%), Employment (56.5%), Supplier Deliveries (53.2%), Inventories (50.5%), Prices (52.5%), Backlog of Orders (54.0%), Exports (59.5%), and Imports (55.0%). The only index showing contraction was Customers’ Inventories (45%).
Machinery was one of just three industries
reporting contraction. In the machinery area, one of the survey respondents said: “Federal debt, deficit and inefficiency are causing a level of caution and uncertainty.”
Of the 18 manufacturing industries, 15 reported growth in November in the following order: Plastics & Rubber Products; Textile Mills; Furniture & Related Products; Primary Metals; Food, Beverage & Tobacco Products; Paper Products; Print- ing & Related Support Activities; Petroleum & Coal Products; Miscellaneous Manufacturing; Electrical Equipment, Appliances & Components; Transportation Equipment; Chemical Prod- ucts; Computer & Electronic Products; Nonmetallic Mineral Products; and Fabricated Metal Products. The three industries reporting contraction in November are: Apparel, Leather & Al- lied Products; Wood Products; and Machinery.
Index PMI™
New Orders Production Employment
Supplier Deliveries Inventories
Prices
Series Index Nov
Series Index Oct
57.3 56.4 63.6 60.6 62.8 60.8 56.5 53.2 53.2 54.7 50.5 52.5
Customers’ Inventories 45.0 47.0 52.5 55.5 54.0 51.5 59.5 57.0 55.0 55.5
Backlog of Orders Exports Imports
Percentage Point Change
+0.9 +3.0 +2.0 +3.3 -1.5 -2.0 -2.0 -3.0 +2.5 +2.5 -0.5
OVERALL ECONOMY Manufacturing Sector
Longer-Term Direction
Growing Growing Growing Growing Slowing Growing Too Low
Increasing Growing Growing Growing Growing Growing
In the machinery area, one of the survey respondents said: “Federal debt, deficit and inefficiency are causing a level of cau- tion and uncertainty.” For more information, visit
http://tinyurl.com/MfgISMNov. ME
More Vendor Tooling Capacity Needed
B
y 2018 Harbour Results Inc. anticipates vendor tooling ca- pacity constraint within the automotive industry, according
to its 2013 Vendor Tooling Study released late last year. In approximately five years, the required capacity of the vendor tooling industry will reach $15.2 billion, with available current supply of only $9.25 billion, Harbour found. Vendor tooling, which is tooling purchased by the original equipment manufacturer (OEM) to be run in Tier One or Tier Two facilities, is a crucial part of the automotive industry and the vehicle development process, accounting for an average of $550 per vehicle in North America at 2012 vehicle volume. This capacity issue affects the entire value stream from ven- dor tooling suppliers to Tier One suppliers and OEMs.
January 2014 |
ManufacturingEngineeringMedia.com 19
Source: Institute for Supply Management
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