Posted on 05/02/2005 9:34:06 AM PDT by 1rudeboy
(Tempe, Arizona) — Economic activity in the manufacturing sector grew in April for the 23rd consecutive month, while the overall economy grew for the 42nd 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, C.P.M., chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. "In April, the manufacturing sector grew for the 23rd consecutive month based on the ISM data. This represents the longest period of growth in the last 16 years. However, the rate of growth slowed to its lowest level since July 2003. The trend is definitely toward a slower pace of growth, and that should relieve some of the pricing pressure that the sector has experienced during 2004 and year to date in 2005. Declines in Inventories indicate that manufacturers are adjusting to slower growth in new orders."
The 14 industries reporting growth in April — listed in order — are: Wood & Wood Products; Miscellaneous*; Rubber & Plastic Products; Instruments & Photographic Equipment; Furniture; Leather; Glass, Stone & Aggregate; Industrial & Commercial Equipment & Computers; Chemicals; Food; Tobacco; Fabricated Metals; Primary Metals; and Transportation & Equipment. Petroleum is the only industry reporting the same level of activity as last month. The industries reporting decreased activity in April are: Apparel; Paper; Electronic Components & Equipment; Printing & Publishing; and Textiles.
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The PMI indicates that the manufacturing economy grew in April for the 23rd consecutive month. The PMI for April registered 53.3 percent, a decrease of 1.9 percentage points when compared to March's reading of 55.2 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
A PMI in excess of 42.7 percent, over a period of time, generally indicates an expansion of the overall economy. The April PMI indicates that both the overall economy and the manufacturing sector are growing. The past relationship between the PMI and the overall economy indicates that the average PMI for January through April (55.1 percent) corresponds to a 4.5 percent increase in gross domestic product (GDP) on an annual basis. In addition, if the PMI for April (53.3 percent) is annualized, it corresponds to a 3.8 percent increase in GDP annually.
Impossible! We don't manufactur anything in America any more.
Manufacturing growth weakest in 2 years
Why would I expect anything less?
ISM factory index slips for 5th straight month
What a hoot.
ISM's New Export Orders Index for April registered 57.2 percent, an increase of 1.8 percentage points when compared to March's index of 55.4 percent. This is the 40th consecutive month of growth in export orders. The 11 industries reporting growth in new export orders in April are: Tobacco; Food; Chemicals; Instruments & Photographic Equipment; Printing & Publishing; Industrial & Commercial Equipment & Computers; Transportation & Equipment; Paper; Rubber & Plastic Products; Fabricated Metals; and Electronic Components & Equipment.
I would think the SEC might be interested in such a gross corporate attempt to manipulate market data and information...for trading purposes????
Impossible!!! How can we export anything if we don't make anything??? Does the OAS know about these lies?
"Furniture" is listed as one of the top performing industries? I challenge anyone to make the case that the US furniture industry isn't doing anything except being shipped over to china. no way this is accurate. It must simply measure growth for the companies that remains in the country, not overall growth of the sector. No way in hell is the US furniture industry growing.
My anecdote trumps your fact filled report because..... just because!!!!
Feel free to contact ISM with your concerns. I suggest you find some data first, because people might think you're blowing smoke.
where is all this US made furniture? who is making it, because reports I see from north carolina all say that employment in the furniture industry there has imploded in recent years.
I'm sitting on some now. Herman Miller.
I'm sitting on some of it right now. Could you post a fact once, instead of a feeling?
Not saying you're wrong, but some proof would be nice. Occasionally. Please. With overpriced subsidized American sugar on top.
seriously, you have got to be kidding me if you are saying that you haven't seen articles about what is happening to the furniture industry in north carolina. a simple google news search will turn up many articles that mention it:
http://www.journalnow.com/servlet/Satellite?pagename=WSJ%2FMGArticle%2FWSJ_BasicArticle&c=MGArticle&cid=1031782378536&path=!business&s=1037645507703
see the post above, the decline in furniture manufacturing jobs in north carolina is well established. and so is the trend of moving furniture making offshore to china. stores like walmart and costco and other big box places have displaced much of the traditional "small store" furniture sales, and they sell chinese made stuff exclusively. It may be different with office furniture like Steelcase and Herman Miller, but home furnishings is another story.
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