ISM reports expanding manufacturing in January for 18 consecutive months of growth


ISM reports that manufacturing picked up in January to make 18 straight months of growth.  The overall economy grew for the 20th straight month.  Via ISM:
"The manufacturing sector grew at a faster rate in January as the PMI registered 60.8 percent, which is its highest level since May 2004 when the index registered 61.4 percent. The continuing strong performance is highlighted as January is also the sixth consecutive month of month-over-month growth in the sector. New orders and production continue to be strong, and employment rose above 60 percent for the first time since May 2004. Global demand is driving commodity prices higher, particularly for energy, metals and chemicals."

Of the 18 manufacturing industries, 14 are reporting growth in January, in the following order:
  1. Petroleum & Coal Products
  2. Primary Metals
  3. Apparel, Leather & Allied Products
  4. Wood Products
  5. Computer & Electronic Products
  6. Transportation Equipment
  7. Fabricated Metal Products
  8. Machinery
  9. Paper Products
  10. Miscellaneous Manufacturing
  11. Chemical Products
  12. Furniture & Related Products
  13. Food, Beverage & Tobacco Products
  14. Electrical Equipment, Appliances & Components

The four industries reporting contraction in January are:
  1. Textile Mills
  2. Printing & Related Support Activities
  3. Plastics & Rubber Products
  4. Nonmetallic Mineral Products


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