ISM Report: Economy Expands for the 10th Month
Economic activity in the manufacturing sector expanded in February for the seventh consecutive month, and the overall economy grew for the 10th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.Norbert J. Ore, chair of the Institute for Supply Management Manufacturing Business Survey Committee said "The manufacturing sector grew for the seventh consecutive month during February. While new orders and production were not as strong as they were in January, they still show significant month-over-month growth. Additionally, the Employment Index is very encouraging, as it is up 2.8 percentage points for the month to 56.1%. This is the third consecutive month of growth in the Employment Index. With these levels of activity, manufacturers are seemingly willing to hire where they have orders to support higher employment."
2 Comments:
The ISM Manufacturing Index FELL to 56.5 from 58.4 in January.
Why is it when other indices show continued contraction at a slower pace, you cheer but when another index shows expansion at a slower rate you also cheer.
Disposable personal income fell in January.
Construction spending fell in January.
January has been a disappointing month from every angle.
Industrial Production Increases for Seventh Consecutive Month
02/17/10
The factory utilization rate, also known as capacity utilization, rose to 72.6% in January from a revised 71.9% in December and 71.3% in November...it's the highest capacity utilization rate since December 2008. The capacity utilization rate is now 8.0 percentage points below its average for 1972-2008, the Fed said.
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