The Institute for Supply Management™ has reported that its gauge of U.S. manufacturing activity rose in January 2011, showing expansion for the 30th consecutive month.
“The PMI registered 54.1 percent, an increase of 1 percentage point from December’s seasonally adjusted reading of 53.1 percent, indicating expansion in the manufacturing sector for the 30th consecutive month,” said Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. “The New Orders Index increased 2.8 percentage points from December’s seasonally adjusted reading to 57.6 percent, reflecting the 33rd consecutive month of growth in new orders. Prices of raw materials increased for the first time in the last four months. Manufacturing is starting out the year on a positive note, with new orders, production and employment all growing in January.”
Nine of the 18 industries covered in the survey reported growth in January. Comments from respondents appeared to be more positive than in recent months, with some optimistic appraisals that 2012 will be a better year than 2011.
For more information, please click on the Economic Growth Statistics page in the menu bar, then scroll down the page to the ISM Manufacturing section.
Gregg D. Killoren
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