Manufacturing activity grows in March at the fastest rates since July 2004

Source: Material Handling Industry of America

May 05, 2010

Economic activity in the manufacturing sector expanded in March for the eighth consecutive month, and the overall economy grew for the eleventh consecutive month, according to the latest Manufacturing ISM Report On Business.

The 17 manufacturing industries reporting growth in March — listed in order — are: Apparel, Leather and Allied Products; Textile Mills; Electrical Equipment, Appliances and Components; Miscellaneous Manufacturing; Transportation Equipment; Machinery; Computer and Electronic Products; Paper Products; Petroleum and Coal Products; Food, Beverage and Tobacco Products; Furniture & Related Products; Nonmetallic Mineral Products; Fabricated Metal Products; Wood Products; Printing & Related Support Activities; Chemical Products; and Primary Metals. Plastics and Rubber Products is the only industry reporting contraction during March.

ISM's New Orders Index registered 61.5% in March, 2 percentage points higher than the seasonally adjusted 59.5% registered in February. This is the ninth consecutive month of growth in the New Orders Index. A New Orders Index above 50.2%, over time, is generally consistent with an increase in the Census Bureau's series on manufacturing orders (in constant 2000 dollars).

The 13 industries reporting growth in new orders in March — listed in order — are: Apparel, Leather and Allied Products; Electrical Equipment, Appliances and Components; Paper Products; Primary Metals; Textile Mills; Food, Beverage and Tobacco Products; Furniture & Related Products; Computer and Electronic Products; Fabricated Metal Products; Machinery; Chemical Products; Transportation Equipment; and Miscellaneous Manufacturing. Plastics and Rubber Products is the only industry reporting a decrease in new orders in March.

ISM's Production Index registered 61.1% in March, which is an increase of 2.7 percentage points from the February reading of 58.4% (seasonally adjusted). An index above 51%, over time, is generally consistent with an increase in the Federal Reserve Board's Industrial Production figures. This is the tenth consecutive month the Production Index has registered above 50%.

The 12 industries reporting growth in production during the month of March — listed in order — are: Apparel, Leather and Allied Products; Textile Mills; Wood Products; Electrical Equipment, Appliances and Components; Miscellaneous Manufacturing; Transportation Equipment; Machinery; Furniture and Related Products; Food, Beverage and Tobacco Products; Primary Metals; Computer & Electronic Products; and Fabricated Metal Products. The two industries reporting a decrease in production are: Paper Products; and Plastics & Rubber Products.

View the complete Manufacturing ISM Report On Business.

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