Economic activity in the manufacturing sector expanded in December for the 17th consecutive month, and the overall economy grew for the 20th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The report was issued today by Norbert J. Ore, CPSM, C.P.M., chair of the Institute for Supply Management Manufacturing Business Survey Committee. "The manufacturing sector continued its growth trend as indicated by this month's report. We saw significant recovery for much of the U.S. manufacturing sector in 2010. The recovery centered on strength in autos, metals, food, machinery, computers and electronics, while those industries tied primarily to housing continue to struggle. Additionally, manufacturers that export have benefitted from both global demand and the weaker dollar. December's strong readings in new orders and production, combined with positive comments from the panel, should create momentum as we go into the first quarter of 2011."
Performance by industry
Of the 18 manufacturing industries, 11 are reporting growth in December, in the following order: Apparel, Leather and Allied Products; Primary Metals; Fabricated Metal Products; Machinery; Computer and Electronic Products; Food, Beverage and Tobacco Products; Textile Mills; Plastics and Rubber Products; Transportation Equipment; Electrical Equipment, Appliances and Components; and Chemical Products. The four industries reporting contraction in December are: Nonmetallic Mineral Products; Paper Products; Printing and Related Support Activities; and Miscellaneous Manufacturing.
|MANUFACTURING AT A GLANCE
|Customers' Inventories||40.0||45.5||-5.5||Too Low||Faster||21|
|Backlog of Orders||47.0||46.0||+1.0||Contracting||Slower||4|
*Number of months moving in current direction.
Commodities reported up/down in price and in short supply
Commodities up in price
Aluminum; Brass; Caustic Soda; Chemicals; Copper; Copper Based Products; Corn; Corrugated Containers; Diesel; Electronic Components; Gasoline; High Density Polyethylene; Natural Gas*; Nickel; PET; Plastic Resins; Polyester; Polyethylene; Resins; Soybean Oil; Stainless Steel; Starch; Steel; Steel Products; Sulfur; Tin Plate; Titanium Dioxide; and Wheat.
Commodities down in price
Natural Gas* is the only commodity reported down in price.
Commodities in short supply
Cocoa Powder is the only commodity reported in short supply.