Economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 93rd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The February PMI registered 57.7 percent, an increase of 1.7 percentage points from the January reading of 56 percent. The New Orders Index registered 65.1 percent, an increase of 4.7 percentage points from the January reading of 60.4 percent. The Production Index registered 62.9 percent, 1.5 percentage points higher than the January reading of 61.4 percent.
Of the 18 manufacturing industries, 17 reported growth in February in the following order: Textile Mills; Apparel, Leather & Allied Products; Machinery; Computer & Electronic Products; Primary Metals; Plastics & Rubber Products; Nonmetallic Mineral Products; Chemical Products; Paper Products; Fabricated Metal Products; Transportation Equipment; Food, Beverage & Tobacco Products; Wood Products; Electrical Equipment, Appliances & Components; Printing & Related Support Activities; Petroleum & Coal Products; and Miscellaneous Manufacturing. The only industry reporting contraction in February is Furniture & Related Products.
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Author
Michael Anderson, former senior editor at Cutting Tool Engineering magazine, holds a master's degree in written communication from Eastern Michigan University. He has been professionally writing about manufacturing technology since 1998, including more than 10 years at the Society of Manufacturing Engineers.
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