ECONOMIC GROWTH INDICATORS
Gross Domestic Product
U.S. GDP 1Q 2012 – Advance Estimate
U.S. GDP 4Q 2011 – Third Estimate
Retail Sales (Consumer Spending)
ADVANCE MONTHLY SALES FOR RETAIL TRADE AND FOOD SERVICES
Retail Sales Report for April 2012
Retail Sales Report for March 2012
Retail Sales Report for February 2012
Retail Sales Report for January 2012
Retail Sales Report for December 2011
Retail Sales Report for November 2011
Retail Sales Report for October 2011
Retail Sales Report for September 2011
Retail Sales Report for August 2011
Retail Sales Report for July 2011
Retail Sales Report for June 2011
Retail Sales Report for May 2011
Retail Sales Report for April 2011
Retail Sales Report for March 2011
Retail Sales Report for February 2011
Retail Sales Report for January 2011
Retail Sales Report for December 2010
Retail Sales Report for November 2010
Retail Sales Report for October 2010
Industrial Production
Industrial Production – April 2012
Industrial Production – March 2012
Industrial Production – February 2012
Productivity
Productivity and Costs – 1Q 2012
Institute for Supply Management Manufacturing Index
April 2012 Manufacturing ISM Report On Business®
PMI at 54.8%
DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country. The national report’s information reflects the entire United States, while the regional reports contain primarily regional data from their local vicinities. Also, the information in the regional reports is not used in calculating the results of the national report. The information compiled in this report is for the month of April 2012.
New Orders, Production and Employment Growing
Supplier Deliveries Faster
Inventories Contracting
(Tempe, Arizona) — Economic activity in the manufacturing sector expanded in April for the 33rd consecutive month, and the overall economy grew for the 35th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business®.
The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. “The PMI registered 54.8 percent, an increase of 1.4 percentage points from March’s reading of 53.4 percent, indicating expansion in the manufacturing sector for the 33rd consecutive month. Sixteen of the 18 industries reflected overall growth in April, and the New Orders, Production and Employment Indexes all increased, indicating growth at faster rates than in March. The Prices Index for raw materials remained at 61 percent in April, the same rate as reported in March. Comments from the panel generally indicate stable to strong demand, with some concerns cited over increasing oil prices and European stability.”
PERFORMANCE BY INDUSTRY
Of the 18 manufacturing industries, 16 are reporting growth in April, in the following order: Furniture & Related Products; Printing & Related Support Activities; Machinery; Nonmetallic Mineral Products; Miscellaneous Manufacturing; Primary Metals; Paper Products; Transportation Equipment; Electrical Equipment, Appliances & Components; Plastics & Rubber Products; Apparel, Leather & Allied Products; Food, Beverage & Tobacco Products; Chemical Products; Fabricated Metal Products; Computer & Electronic Products; and Petroleum & Coal Products. The only industry reporting contraction in April is Wood Products.
WHAT RESPONDENTS ARE SAYING …
- “We expect our production levels to remain at the current level or increase over the next quarter.” (Chemical Products)
- “In general, demand remains strong for products, and we [are experiencing] more supply disruptions now than four to five months ago.” (Machinery)
- “The economy was off to a good start through the first quarter, but the European issues keep coming up as well as the recent disappointing jobs report. It appears that some of the early gains may be temporary.” (Fabricated Metal Products)
- “Warm weather in Midwest appears to have helped soft drink sales.” (Food, Beverage & Tobacco Products)
- “Positive increase in volume of sales and orders, and slight uptick in inventories, indicate the overall outlook remains robust through summer at least.” (Miscellaneous Manufacturing)
- “Sales are slowing.” (Computer & Electronic Products)
- “Business conditions on a national scale have a very positive outlook for the commercial metals we provide. At this point, we have outperformed each quarter’s goal and anticipate a strong finish.” (Primary Metals)
- “Strong demand [compared to] previous year.” (Plastics & Rubber Products)
- “Business indicators suggest a stronger stability in overall environment. Production and orders are stable.” (Transportation Equipment)
- “Business conditions continue to improve.” (Furniture & Related Products)
| MANUFACTURING AT A GLANCE APRIL 2012 |
||||||
|---|---|---|---|---|---|---|
| Index | Series Index Apr |
Series Index Mar |
Percentage Point Change |
Direction | Rate of Change |
Trend* (Months) |
| PMI | 54.8 | 53.4 | +1.4 | Growing | Faster | 33 |
| New Orders | 58.2 | 54.5 | +3.7 | Growing | Faster | 36 |
| Production | 61.0 | 58.3 | +2.7 | Growing | Faster | 35 |
| Employment | 57.3 | 56.1 | +1.2 | Growing | Faster | 31 |
| Supplier Deliveries | 49.2 | 48.0 | +1.2 | Faster | Slower | 3 |
| Inventories | 48.5 | 50.0 | -1.5 | Contracting | From Unchanged | 1 |
| Customers’ Inventories | 45.5 | 44.5 | +1.0 | Too Low | Faster | 5 |
| Prices | 61.0 | 61.0 | 0.0 | Increasing | Same | 4 |
| Backlog of Orders | 49.5 | 52.5 | -3.0 | Contracting | From Growing | 1 |
| Exports | 59.0 | 54.0 | +5.0 | Growing | Faster | 6 |
| Imports | 53.5 | 53.5 | 0.0 | Growing | Same | 5 |
| OVERALL ECONOMY | Growing | Faster | 35 | |||
| Manufacturing Sector | Growing | Faster | 33 | |||
*Number of months moving in current direction.
COMMODITIES REPORTED UP/DOWN IN PRICE and IN SHORT SUPPLY
Commodities Up in Price
Alloys; Aluminum Products (3); Fabricated Metal Parts; Ferro Alloys; #2 Fuel Oil; Gasoline (2); HDPE (2); Lumber (2); Machined Metal Parts; Motors; Oil (2); Oil Related Products; Plastic Components (2); Plastic Resins (3); Polypropylene (3); Propylene; Rubber Products (2); Steel — Hot Rolled; Steel Based Products; Soybean Oil; Titanium Dioxide; and Transportation Costs.
Commodities Down in Price
Natural Gas (9); and Steel (2).
Commodities in Short Supply
No commodities are reported in short supply.
Note: The number of consecutive months the commodity is listed is indicated after each item.
Institute for Supply Management Services Index
April 2012 Non-Manufacturing ISM Report On Business®
NMI at 53.5%
DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country. The national report’s information reflects the entire United States, while the regional reports contain primarily regional data from their local vicinities. Also, the information in the regional reports is not used in calculating the results of the national report. The information compiled in this report is for the month of April 2012.
Business Activity Index at 54.6%
New Orders Index at 53.5%
Employment Index at 54.2%
(Tempe, Arizona) — Economic activity in the non-manufacturing sector grew in April for the 28th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.
The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee. “The NMI registered 53.5 percent in April, 2.5 percentage points lower than the 56 percent registered in March. This indicates continued growth this month, but at a slower rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index registered 54.6 percent, which is 4.3 percentage points lower than the 58.9 percent reported in March, reflecting growth for the 33rd consecutive month. The New Orders Index decreased by 5.3 percentage points to 53.5 percent, and the Employment Index decreased by 2.5 percentage points to 54.2 percent, indicating continued growth in employment at a slower rate. The Prices Index decreased 10.3 percentage points to 53.6 percent, indicating prices increased at a significantly slower rate in April when compared to March. According to the NMI, 15 non-manufacturing industries reported growth in April. Respondents’ comments affirm the slowing rate of growth. In addition, they remain concerned about rising fuel costs and the impact on shipping, transportation and petroleum-based product costs.”
INDUSTRY PERFORMANCE
The 15 non-manufacturing industries reporting growth in April — listed in order — are: Retail Trade; Information; Construction; Management of Companies & Support Services; Arts, Entertainment & Recreation; Educational Services; Finance & Insurance; Accommodation & Food Services; Wholesale Trade; Real Estate, Rental & Leasing; Transportation & Warehousing; Other Services; Public Administration; Professional, Scientific & Technical Services; and Health Care & Social Assistance. The three industries reporting contraction in April are: Agriculture, Forestry, Fishing & Hunting; Utilities; and Mining.
WHAT RESPONDENTS ARE SAYING …
- “Sales have improved slightly, yet still lag behind pre-recession highs. The hiring freeze has been lifted, but open positions are still being vetted for need, timing of the fill, and so forth.” (Public Administration)
- “Business conditions have improved in March and April 2012. We have received more job inquiries and job awards in this period. The increase is about 15 percent.” (Professional, Scientific & Technical Services)
- “Current conditions compared to prior year are good. Fuel and food continue to be a challenge.” (Arts, Entertainment & Recreation)
- “Business is slowing — and projections for the rest of the year are being lowered.” (Professional, Scientific & Technical Services)
- “Business is still ahead of last year, but has leveled off a little.” (Wholesale Trade)
- “High price of petroleum/oil driving up costs for all market areas.” (Transportation & Warehousing)
| ISM NON-MANUFACTURING SURVEY RESULTS AT A GLANCE COMPARISON OF ISM NON-MANUFACTURING AND ISM MANUFACTURING SURVEYS* APRIL 2012 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| Non-Manufacturing | Manufacturing | ||||||||
| Index | Series Index Apr |
Series Index Mar |
Percent Point Change |
Direction | Rate of Change |
Trend** (Months) |
Series Index Apr |
Series Index Mar |
Percent Point Change |
| NMI/PMI | 53.5 | 56.0 | -2.5 | Growing | Slower | 28 | 54.8 | 53.4 | +1.4 |
| Business Activity/Production | 54.6 | 58.9 | -4.3 | Growing | Slower | 33 | 61.0 | 58.3 | +2.7 |
| New Orders | 53.5 | 58.8 | -5.3 | Growing | Slower | 33 | 58.2 | 54.5 | +3.7 |
| Employment | 54.2 | 56.7 | -2.5 | Growing | Slower | 4 | 57.3 | 56.1 | +1.2 |
| Supplier Deliveries | 51.5 | 49.5 | +2.0 | Slowing | From Faster | 1 | 49.2 | 48.0 | +1.2 |
| Inventories | 54.0 | 54.0 | 0.0 | Growing | Same | 3 | 48.5 | 50.0 | -1.5 |
| Prices | 53.6 | 63.9 | -10.3 | Increasing | Slower | 33 | 61.0 | 61.0 | 0.0 |
| Backlog of Orders | 53.0 | 49.5 | +3.5 | Growing | From Contracting | 1 | 49.5 | 52.5 | -3.0 |
| New Export Orders | 58.0 | 52.5 | +5.5 | Growing | Faster | 9 | 59.0 | 54.0 | +5.0 |
| Imports | 56.5 | 56.0 | +0.5 | Growing | Faster | 5 | 53.5 | 53.5 | 0.0 |
| Inventory Sentiment | 61.0 | 58.5 | +2.5 | Too High | Faster | 179 | N/A | N/A | N/A |
| Customers’ Inventories | N/A | N/A | N/A | N/A | N/A | N/A | 45.5 | 44.5 | +1.0 |
* Non-Manufacturing ISM Report On Business® data is seasonally adjusted for Business Activity, New Orders, Prices and Employment. Manufacturing ISM Report On Business® data is seasonally adjusted for New Orders, Production, Employment and Supplier Deliveries.
** Number of months moving in current direction.
COMMODITIES REPORTED UP / DOWN IN PRICE, and IN SHORT SUPPLY
Commodities Up in Price
Air Freight; Airfares (4); Anti-Bacterial Hand Sanitizers; Apparel; Asphalt; Asphalt Construction; Auto Parts; Automobile Tires; Beef; Benefits; Cleaning Products; Construction Services; Diesel Fuel (3); #1 Diesel Fuel (5); #2 Diesel Fuel (6); Delivery Services; Food & Beverage (2); Fuel (4); Fuel Products (2); Fuel Surcharges (2); Fuel Transportation; Gasoline (4); Hotel Rates; Labor; Office Products and Supplies; Paper Products; Plastic Bags (2); Plastic Can Liners; Plastic Film (3); Plastic Products (3); Rental Cars; Software Maintenance; Steel; Transportation Costs; 3/4-Ton Pickup Trucks (4X4); Trucks; and #10 Window Envelopes.
Commodities Down in Price
Carbon Steel Products; Cheese; Computer Equipment/Hardware; Copper Based Products; Electricity; and Natural Gas (3).
Commodities in Short Supply
IV Solutions; and Pharmaceuticals (2).
Note: The number of consecutive months the commodity is listed is indicated after each item.
Personal Income and Outlays
Personal Income and Outlays – March 2012
Personal Income and Outlays – February 2012
Personal Income and Outlays – January 2012
Personal Income and Outlays – December 2011
Personal Income and Outlays – November 2011
Gregg D. Killoren
victoria1014
