ISM Report: Orders, Production & Employment On the Rise
03/15/2010
"While new orders and production were not as strong as they were in January, they still show significant month-over-month growth," Norbert J. Ore, CPSM, C.P.M., chair of the Institute for Supply Management Manufacturing Business Survey Committee, stated in a published report at the Wall Street Journal Online.
The Employment Index is up 2.8 percentage points for the month to 56.1 percent. That is the third consecutive month of growth, and the report notes the activity level may lead to more hiring.
The 11 manufacturing industries reporting growth in February are machinery, paper products, apparel, leather and allied products, computer and electronic products, miscellaneous manufacturing, transportation equipment, textile mills, plastics and rubber products, electrical equipment, appliances and components, fabricated metal and food, beverage and tobacco.
The five industries experiencing constriction are wood products, furniture and related products, primary metals, printing and related support activities and chemical products.
According to a Bloomberg report, production at factories, mines and utilities increased .1 percent in February, the eighth consecutive increase, according to Federal Reserve figures.
The newspaper article states that manufacturers, which make up about 12 percent of the economy, will likely continue to lead the recovery as equipment spend increases and there is greater demand from expanding global economies.
Most Read
-
-
2019 Leading Metro Locations: Pacific and South-Atlantic Metros Dominate the List
Q4 2019
-
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
Q3 2019
-
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
Q3 2020
-
A Heightened Focus on Reshoring
Q3 2020
-
How are Uncertain Times Altering Company Location Strategies?
Q3 2020
-
34th Annual Corporate Survey & the 16th Annual Consultants Survey
Q1 2020