While economic activity in the manufacturing sector expanded in January for the eighth consecutive month, and the overall economy grew for the 56th consecutive month, the actual level of manufacturing activity declined substantially in January compared to December. According to the latest Manufacturing ISM Report On Business®:
The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee.
- “The January PMI® registered 51.3 percent, a decrease of 5.2 percentage points from December’s seasonally adjusted reading of 56.5 percent.”
- “The New Orders Index registered 51.2 percent, a significant decrease of 13.2 percentage points from December’s seasonally adjusted reading of 64.4 percent.”
- “The Production Index registered 54.8 percent, a decrease of 6.9 percentage points compared to December’s seasonally adjusted reading of 61.7 percent.”
Of the 18 manufacturing industries, 11 are reporting growth in January in the following order: Plastics & Rubber Products; Primary Metals; Textile Mills; Wood Products; Printing & Related Support Activities; Fabricated Metal Products; Electrical Equipment, Appliances & Components; Transportation Equipment; Machinery; Furniture & Related Products; and Food, Beverage & Tobacco Products.
What commodities were reported to be in short supply/ up in price?
- Electrical Components;
- Natural Gas;
- Plastic Resins;
- Polypropylene Resins;
- Stainless Steel;
- Steel (2);
- Steel — Hot Rolled;
The PMPA’s December Business Trends Report and Annual Summary showed a remarkably strong finish to the end of 2013.
We look forward to our Report on January which we will post on or about the 20th of February.