News Desk PMI™


Growth in New Orders Fuels Continued Manufacturing Growth


E


conomic activity in the US manufacturing sector expanded in December for the seventh consecutive month, while the overall economy grew for the 55th consecutive month, according to the Manufacturing ISM Report on Business released on Jan. 2.


The PMI registered 57%, the second highest reading of


the year, just 0.3 percentage point below November’s read- ing of 57.3 percent. The PMI had 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, eight of the 10 indices tracked as part of the Manufacturing ISM Report on Business showed growth


New Orders Production Employment


Supplier Deliveries Inventories


Prices


Index


Series Index Dec


Series Index Nov


57.0 57.3 64.2 63.6 62.2 62.8 56.9 56.5 54.7 53.2 47.0 50.5


Customers’ Inventories 47.5 45.0 53.5 52.5 51.5 54.0 55.0 59.5 55.0 55.0


Backlog of Orders Exports Imports


Percentage Point Change


-0.3 +0.6 -0.6 +0.4 +1.5 -3.5 +2.5 +1.0 -2.5 -4.5 0.0


OVERALL ECONOMY Manufacturing Sector


Longer-Term Direction


Growing Growing Growing Growing Slowing


Contracting Too Low


Increasing Growing Growing Growing Growing Growing


in November. Importantly, the index for New Orders grew to 64.2% in December from 63.6% in November. Additionally, these were how the other indices performed in December: Production (62.2%), Employment (56.9%), Supplier Deliver-


COLORS


JOB# 22 ManufacturingEngineeringMedia.com | February 2014 PROOF SIZE INITIA L SETUP DESKTO P ARTIST 817.335.1373


FIL E NAME


OK as is OK with changes Supply new proof with changes


Source: Institute for Supply Management


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