ISM: Production Growing (CONT’D FROM PAGE 10)
eries, inventories, prices and imports — mostly accom- modated future demand growth. The Supplier Deliveries Index indicated faster deliveries, and the Inventories Index expanded at a slower rate as panelists’ companies contin- ued to manage the total supply chain inventory. The Prices Index decreased for the ninth consecutive month, falling deeper into contraction territory. “Of the six biggest manufacturing industries, two — Pe- troleum & Coal Products; and Transportation Equipment — registered weak-to-moderate growth in November. “Manufacturing contracted in November after expand- ing for 29 straight months. Panelists’ companies continue to judiciously manage hiring, other than October 2022, the month-over-month supplier delivery performance was the best since February 2012 when it registered 47 per- cent, and material lead times declined approximately nine percent from the prior month, approximately 18 percent over the last four months. Managing head counts and to- tal supply chain inventories remain primary goals. Order backlogs, prices and now lead times are declining rapidly, which should bring buyers and sellers back to the table to refill order books based on 2023 business plans.” Twelve industries reported contraction in November, among them Printing & Support Activities; Wood Products; Paper Products; Food, Beverage & Tobacco Products; and Appliances & Components.
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12 December 12, 2022
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