Manufacturing Expands for Ninth Consecutive Month, Transportation Up
Economic activity in the manufacturing sector expanded in February for the ninth consecutive month, and the overall economy grew for the 57th consecutive month, according to the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
Transportation equipment was one of the 14 sectors reporting growth in February.
The report, issued by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee, noted that the February PMI® registered 53.2 percent, an increase of 1.9 percentage points from January’s reading of 51.3 percent –indicating expansion in manufacturing for the ninth consecutive month.
The New Orders Index registered 54.5 percent, an increase of 3.3 percentage points from January’s reading of 51.2 percent. The Production Index registered 48.2 percent, a decrease of 6.6 percentage points compared to January’s reading of 54.8 percent.
The index for inventories of raw materials increased by 8.5 percentage points to 52.5 percent.
Category: General Update, Management
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
