NEWS DESK
US Manufacturing Economy Contracts in January
T
he US manufacturing economy contracted in January on lower employment and inventories, according to a
monthly report by the Institute for Supply Management. The institute’s PMI, which measures economic activity in manufacturing, was 48.2% in January. The report by ISM (Tempe, AZ) is based on a survey of
purchasing and supply executives. Readings above 50% indicate expansion and below 50% contraction. ISM also restated the PMI for previous months following an annual adjustment to seasonal factors used to calculate indexes that are part of the PMI. After the adjustment, the PMI’s losing streak began with a restated 49.4% in October. The January figure, while still showing contraction, is slightly better than a restated 48% for December. With the restated figures, the PMI’s high over the past 12 months was 53.3% in February 2015. The 12-month aver-
age is 50.9% and the last month with growth was August at 51%. The restated September 2015 figure was 50% even. There were some bright spots in the report. The New
Orders Index in January was 51.5%, indicating growth, an improvement from 48.8% in December. The Production Index was 50.2% in January, up from 49.9% the month before. Only eight of 18 manufacturing sectors reported growth, including textiles, wood products, miscellaneous manufactur- ing and machinery. The 10 industries reporting contraction in- cluded apparel, petroleum and coal products, transportation equipment and fabricated metal products. —Senior Editor Bill Koenig
Boeing Forecasts Lower Deliveries B
oeing Co. (Chicago) has forecast lower commercial aircraft deliveries for 2016. The aircraft maker in late January projected it would deliver 740 to 745 commercial planes this year, down from 762 in 2015.
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AdvancedManufacturing.org | March 2016
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