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Economic Data (USA)

Thursday, January 02, 2014

ISM Manufacturing Index for December 2013

Earlier today, the Institute for Supply Management (ISM) released their Purchasing Manager's Index (PMI) for December 2013:

Predicted: 57.0%
Actual: 57.0%

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the factory sector contracted.

Last month, the PMI was 57.3%.

The following is a sampling of quotes from a diverse pool of U.S. manufacturers:

"...'Amazingly enough, we are seeing meaningful increases in our sales in nearly all segments and regions.' (Apparel, Leather & Allied Products)

    'Largest backlog ever. Most orders waiting on customer approvals.' (Fabricated Metal Products)

    'Orders and prices continue to be strong.' (Paper Products)

    'Continued government spending constraints keeping production volumes low.' (Transportation Equipment)

    'Good overall business conditions nationally and internationally.' (Computer & Electronic Products)

    'Markets are sound. We typically see a seasonal 4th quarter slowdown. However, this year … not so.' (Wood Products)

    'Very, very busy.' (Furniture & Related Products)

    'Sales are strong going into the holiday season.' (Food, Beverage & Tobacco Products)

    'Construction equipment market continues to be flat with some signs of improvement on the horizon.' (Machinery)

    'Business conditions remain stable to slightly improving.' (Miscellaneous Manufacturing)..."

Click here to view the complete ISM report.

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