ISM: Manufacturing, Economy Grow Again In December
November figure of 61.7 percent. The Inventories Index registered 51.6 percent, 0.4 percentage point higher than the November reading of 51.2 percent. The Prices Index registered 77.6 percent, up 12.2 percentage points com- pared to the November reading of 65.4 percent. The New Export Orders Index registered 57.5 percent, a decrease of 0.3 percentage point compared to the November read- ing of 57.8 percent. The Imports Index registered 54.6 per- cent, a 0.5 percentage point decrease from the November reading of 55.1 percent.” “The manufacturing economy continued its recovery in December. Survey Committee members reported that their companies and suppliers continue to operate in re- configured factories, but absenteeism, short-term shut- downs to sanitize facilities and difficulties in returning and hiring workers are causing strains that are limiting manu- facturing growth potential. However, panel sentiment re- mains optimistic (three positive comments for every cau- tious comment), an improvement compared to November. “Demand expanded, with the (1) New Orders Index growing at a strong level, supported by the New Export Orders Index expanding, (2) Customers’ Inventories In- dex remaining in ‘too low’ territory and at a level consid- ered a positive for future production, and the (3) Backlog of Orders Index achieving a 2½-year high. Consumption (measured by the Production and Employment indexes) contributed positively (a combined 7.1 percentage point in- CONTINUED ON PAGE 40
Economic activity in the manufacturing sector grew in De- cember, with the overall economy notching an eighth con- secutive month of growth, say the nation’s supply execu- tives in the latest Manufacturing ISM Report On Business. The report was issued last week by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Manage- ment (ISM) Manufacturing Business Survey Committee: “The December Manufacturing PMI registered 60.7 percent, up 3.2 percentage points from the November reading of 57.5 percent. This figure indicates expansion in the overall economy for the eighth month in a row after contracting in March, April, and May, which ended a peri- od of 131 consecutive months of growth. The New Orders Index registered 67.9 percent, up 2.8 percentage points from the November reading of 65.1 percent. “The Production Index registered 64.8 percent, an in- crease of 4 percentage points compared to the Novem- ber reading of 60.8 percent. The Backlog of Orders Index registered 59.1 percent, 2.2 percentage points higher compared to the November reading of 56.9 percent. The Employment Index returned to expansion territory at 51.5 percent, 3.1 percentage points higher from the November reading of 48.4 percent. The Supplier Deliveries Index reg- istered 67.6 percent, up 5.9 percentage points from the
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January 11, 2021
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