In the latest Manufacturing ISM Report on Business, supply executives in our country said economic activity in the manufacturing sector expanded in August for the 25th consecutive month, and the overall economy grew for the 27th consecutive month.
However, the picture really isn’t too rosy. Employment is growing slowly but so are inventories. And new orders, the backlog of orders & production are contracting although at slightly slower rates than in July. And other categories addressed in the ISM report shows a mix of minimal growth and contraction at a slower pace. Copper prices were both up and down in August while in the commodities category electric/electronic components were in short supply. The overall sentiment of supply executives can best be described as one of concern & caution over both the US economy and the global economic environment.
PERFORMANCE BY INDUSTRY
Of the 18 manufacturing industries, 10 reported growth in August in the following order: Wood Products; Petroleum & Coal Products; Miscellaneous Manufacturing; Food, Beverage & Tobacco Products; Fabricated Metal Products; Paper Products; Transportation Equipment; Chemical Products; Computer & Electronic Products; and Machinery.
The six industries reporting contraction in August are (in order): Plastics & Rubber Products; Textile Mills; Nonmetallic Mineral Products; Electrical Equipment, Appliances & Components; Apparel, Leather & Allied Products; and Primary Metals.
How was August 2011 for your company? Sales flat, up or down? Please share your thoughts about the state of manufacturing in our country. And thanks for subscribing to EVERYTHING’S CONNECTED.
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