US Manufacturing Picture Continues to Improve
TEMPE, AZ — US manufacturing activity rose in January to its highest point since June, according to the latest survey of the nation's supply executives.
The Institute for Supply Management's PMI rose one point month-over-month to 54.1%, the 30th consecutive month of growth.
The New Orders Index increased 2.8 percentage points from December's seasonally adjusted reading to 57.6%, the 33rd consecutive month of growth. Raw material prices increased for the first time in four months.
"Manufacturing is starting out the year on a positive note, with new orders, production and employment all growing in January," spokesman Bradley J. Holcomb said.
Among the industries reporting growth was Computer & Electronic Products.
| Manufacturing At a Glance January 2012 |
||||||
|---|---|---|---|---|---|---|
Index | Series Index Jan | Series Index Dec | Percentage Point Change | Direction | Rate of Change | Trend* (Months) |
| PMI | 54.1 | 53.1 | +1.0 | Growing | Faster | 30 |
| New Orders | 57.6 | 54.8 | +2.8 | Growing | Faster | 33 |
| Production | 55.7 | 58.9 | -3.2 | Growing | Slower | 32 |
| Employment | 54.3 | 54.8 | -0.5 | Growing | Slower | 28 |
| Supplier Deliveries | 53.6 | 51.5 | +2.1 | Slowing | Faster | 31 |
| Inventories | 49.5 | 45.5 | +4.0 | Contracting | Slower | 4 |
| Customers' Inventories | 47.5 | 42.5 | +5.0 | Too Low | Slower | 2 |
| Prices | 55.5 | 47.5 | +8.0 | Increasing | From Decreasing | 1 |
| Backlog of Orders | 52.5 | 48.0 | +4.5 | Growing | From Contracting | 1 |
| Exports | 55.0 | 53.0 | +2.0 | Growing | Faster | 3 |
| Imports | 52.5 | 54.0 | -1.5 | Growing | Slower | 2 |
| OVERALL ECONOMY | Growing | Faster | 32 | |||
| Manufacturing Sector | Growing | Faster | 30 | |||
*Number of months moving in current direction. Indexes reflect newly released seasonal adjustment factors.
Source: ISM
