New Orders? Next week will feature a Blue Monday for Dems.
Posted on 12/01/2005 6:09:36 PM PST by Dont_Tread_On_Me_888
November Manufacturing ISM Report On Business® PMI at 58.1% New Orders, Production Expanding Employment Growing, Deliveries Slowing Prices Increasing (Tempe, Arizona) — Economic activity in the manufacturing sector grew in November for the 30th consecutive month, while the overall economy grew for the 49th 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. "The manufacturing sector expanded in November based on the ISM data. The PMI again showed significant strength in manufacturing activity as the index indicates strong growth during the month. The New Orders and Production indexes continue to drive the sector. While energy costs and supply interruptions remain a concern, purchasers are satisfied in general with current business conditions."
TOP PERFORMING INDUSTRIES The 17 industries reporting growth in November — listed in order — are: Apparel; Rubber & Plastic Products; Electronic Components & Equipment; Tobacco; Textiles; Miscellaneous*; Primary Metals; Food; Paper; Chemicals; Industrial & Commercial Equipment & Computers; Instruments & Photographic Equipment; Furniture; Transportation & Equipment; Fabricated Metals; Glass, Stone & Aggregate; and Printing & Publishing.
WHAT RESPONDENTS ARE SAYING ... "The hurricanes along the Gulf Coast are still impacting the supply and delivery of some products and materials." (Chemicals) "Our business has held strong through the third quarter and we are on track for a record sales year." (Electronic Components & Equipment) "Our production is sold out for the rest of the year. Spare parts are difficult to get due to long leadtimes. (Glass, Stone & Aggregate) "Concerned that business will be slowing due to housing decline." (Industrial & Commercial Equipment & Computers) "The hurricanes destroyed many trucks ... [which resulted in] extra business." (Transportation & Equipment)
PMI
The PMI indicates that the manufacturing economy grew in November for the 30th consecutive month. The PMI for November registered 58.1 percent, a decrease of 1 percentage point when compared to October's reading of 59.1 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 November 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 November (55.7 percent) corresponds to a 4.7 percent increase in real gross domestic product (GDP) on an annual basis. In addition, if the PMI for November (58.1 percent) is annualized, it corresponds to a 5.6 percent increase in real GDP annually.
Full report and much more data at link.
In the stock market, large cap stocks are bringing up the rear yet again (same old song and dance since 2000). Mid cap and small cap stocks continue to trounce the large caps. Growth stocks have finally started to do better relative to value stocks after playing second fiddle for so long, except in the large cap class where value stocks are outperforming growth stocks.
The MSCI EMF Latin America Index is up over 65% for the year.
Muy bueno!
Nope, all lies...manufacturing and the economy are tanking.
Signed...John F. Kerry
Politicians, the president and Congress have about as much to do with month to month changes in economic reports as shredded wheat cereal has to do with the the afterburner thrust of an F-15.
Wait a minute, I thought the NYT said that only airplane manufacturers are doing well?
And, that partly explains why the New York Lying Slimes is doing so poorly, as their stock chart shows:
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