11 industries reported expansion in February. The Precision Machined Products Industry, a sub industry of Fabricated Metals, serves 7 of these industries showing the greatest recovery.
Here are the sectors that reported expansion that precision machining serves:
- Computer & Electronic Products;
- Miscellaneous Manufacturing;
- Transportation Equipment;
- Electrical Equipment;
- Appliances & Components;
- Fabricated Metal Products;
Economic activity in the manufacturing sector expanded in February for the seventh consecutive month, and the overall economy grew for the 10th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business®.
The PMI index for February was 56.5 down 1.9 percentage points from January. Because the PMI is above 50, the manufacturing economy is expanding.
According to ISM steel, stainless steel, and aluminum are increasing in price.
Anecdotal data from our conversations with members confirms the ISM numbers, and points out that the metals named above are both more expensive and in short supply.
You know business is improving when they are out of plain vanilla.