February ISM Report: New Orders, Production Growing
Press release from the issuing company
(Tempe, Arizona) — Economic activity in the manufacturing sector grew in February for the 21st consecutive month, while the overall economy grew for the 40th 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. "February was another good month in the manufacturing sector. While the overall rate of growth is slowing, the overall picture is improving as price increases and shortages are becoming less of a problem. Exports and imports remain strong. The recent trend of inventory growth reversed direction during February; this reduces possible concerns about involuntary inventory build. Customers' inventories declined slightly, reinforcing the probability that inventories are not yet a concern."
TOP PERFORMING INDUSTRIES
The 13 industries reporting growth in February — listed in order — are: Apparel; Textiles; Miscellaneous*; Transportation & Equipment; Electronic Components & Equipment; Tobacco; Chemicals; Industrial & Commercial Equipment & Computers; Instruments & Photographic Equipment; Primary Metals; Food; Wood & Wood Products; and Paper. The one industry reporting the same level of activity as last month is Petroleum. The six industries reporting decreased activity from last month — listed in order — are: Leather; Glass, Stone & Aggregate; Fabricated Metals; Rubber & Plastic Products; Printing & Publishing; and Furniture.
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