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December 2006 Manufacturing ISM Report: New Orders and Production Growing

Press release from the issuing company

(Tempe, Arizona) — Economic activity in the manufacturing sector expanded in December following a one-month decline, while the overall economy grew for the 62nd 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. "Manufacturing proved resilient in December, as the PMI returned to growth registering 51.4 percent after a decline (under 50 percent) in November. Both New Orders and Production made significant gains to drive the PMI back above the breakeven point. Manufacturing employment remained relatively unchanged as the Employment Index shows a negligible change for the second consecutive month. The Prices Index is trending downward, relieving some of the inflationary pressure that has troubled manufacturing since the middle of 2003." TOP PERFORMING INDUSTRIES The nine industries reporting growth in December — listed in order — are: Apparel, Leather & Allied Products; Printing & Related Support Activities; Plastics & Rubber Products; Miscellaneous Manufacturing; Petroleum & Coal Products; Computer & Electronic Products; Primary Metals; Chemical Products; and Food, Beverage & Tobacco Products. WHAT RESPONDENTS ARE SAYING ... * "Strong demand for 4Q shipments." (Computer & Electronic Products) * "Demand is slowing." (Chemical Products) * "Automotive customer demand is picking up after being flat/down the last couple months." (Fabricated Metal Products) * "Business climate remains strong due to heavy truck build." (Transportation Equipment) * "We are projecting a 10 percent drop in production through the first half of next year." (Furniture & Related Products)

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