US Manufacturing Picture Continues to Improve

Written by Mike Buetow

Wednesday, 01 February 2012 10:11

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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

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