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Written by Mike Buetow
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Friday, 01 February 2013 11:16 |
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TEMPE, AZ — Economic activity in the manufacturing sector expanded in January for the second consecutive month, and the overall economy grew for the 44th consecutive month, according to the latest ISM data.
The report, issued today, shows the PMI index of manufacturing rose 290 basis points over December to 53.1%, indicating expansion in manufacturing for the second consecutive month. New Orders rose 360 basis points to 53.3%, indicating growth in new orders.
"Manufacturing is starting out the year on a positive note, with all five of the PMI's component indexes — new orders, production, employment, supplier deliveries and inventories — registering above 50 percent in January," said ISM spokesman Bradley J. Holcomb.
Two of the manufacturing industries reporting contraction in January were Computer & Electronic Products and Chemical Products.
MANUFACTURING AT A GLANCE
JANUARY 2013 |
Index | Series
Index
Jan | Series
Index
Dec | Percentage
Point
Change |
Direction | Rate
of
Change |
Trend*
(Months) |
| PMI™ |
53.1 |
50.2 |
+2.9 |
Growing |
Faster |
2 |
| New Orders |
53.3 |
49.7 |
+3.6 |
Growing |
From Contracting |
1 |
| Production |
53.6 |
52.6 |
+1.0 |
Growing |
Faster |
5 |
| Employment |
54.0 |
51.9 |
+2.1 |
Growing |
Faster |
40 |
| Supplier Deliveries |
53.6 |
53.7 |
-0.1 |
Slowing |
Slower |
3 |
| Inventories |
51.0 |
43.0 |
+8.0 |
Growing |
From Contracting |
1 |
| Customers' Inventories |
48.5 |
47.0 |
+1.5 |
Too Low |
Slower |
14 |
| Prices |
56.5 |
55.5 |
+1.0 |
Increasing |
Faster |
6 |
| Backlog of Orders |
47.5 |
48.5 |
-1.0 |
Contracting |
Faster |
10 |
| Exports |
50.5 |
51.5 |
-1.0 |
Growing |
Slower |
2 |
| Imports |
50.0 |
51.5 |
-1.5 |
Unchanged |
From Growing |
1 |
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| OVERALL ECONOMY |
Growing |
Faster |
44 |
| Manufacturing Sector |
Growing |
Faster |
2 |
*Number of months moving in current direction
Indexes reflect newly released seasonal adjustment factors.
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