January PMI up 3%

Manufacturing starts 2013 on a positive note, as PMI increases for second straight month and key indexes all remain above 50-point growth markPMI, manufacturing, economy, supply chain,

Manufacturing activity expanded in January, according to data released by the Institute for Supply Management Friday. The group’s Purchasing Manager’s Index registered 53.1 for the month, a 3% increase over December’s seasonally adjusted reading of 50.2.

A reading above 50 indicates expansion in the manufacturing sector.

ISM said the January report indicates a positive start to manufacturing for 2013, as all five of its component indexes were above the 50-point threshold indicating growth. New orders rose nearly 4% during the month to 53.3 while production rose 1% to 53.6, employment rose 2% to 54, and inventories grew by 8% to 51. Supplier deliveries slowed a bit but remained above 50, registering 53.6 compared to December’s 53.7.

This marks the second straight month of growth in the manufacturing sector; the PMI dipped below 50 in November when it hit 49.9, its lowest point in the last 12 months.

TAGS: Supply Chain
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