October 2012 ISM Report Shows Slight Growth in Manufacturing.
Economic activity in the manufacturing sector expanded in October for the second consecutive month following three months of slight contraction, and the overall economy grew for the 41st consecutive month, say the nation?s supply executives in the latest Manufacturing ISM Report On Business?.
The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management? Manufacturing Business Survey Committee. ?The PMI? registered 51.7 percent, an increase of 0.2 percentage point from September?s reading of 51.5 percent, indicating growth in manufacturing at a slightly faster rate. The New Orders Index registered 54.2 percent, an increase of 1.9 percentage points from September, indicating growth in new orders for the second consecutive month. The Production Index registered 52.4 percent, an increase of 2.9 percentage points, indicating growth in production following two months of contraction. The Employment Index registered 52.1 percent; a decrease of 2.6 percentage points, and the Prices Index registered 55 percent, reflecting a decrease of 3 percentage points. Comments from the panel this month reflect continued concern over a fragile global economy and soft orders across several manufacturing sectors.?
PERFORMANCE BY INDUSTRY
Of the 18 manufacturing industries, eight are reporting growth in October in the following order: Petroleum & Coal Products; Furniture & Related Products; Apparel, Leather & Allied Products; Paper Products; Miscellaneous Manufacturing; Food, Beverage & Tobacco Products; Plastics & Rubber Products; and Chemical Products. The eight industries reporting contraction in October ? listed in order ? are: Primary Metals; Wood Products; Machinery; Fabricated Metal Products; Transportation Equipment; Electrical Equipment, Appliances & Components; Computer & Electronic Products; and Nonmetallic Mineral Products.
WHAT RESPONDENTS ARE SAYING ?
- ?Market is still very soft.? (Paper Products)
- ?Business is picking up.? (Furniture & Related Products)
- ?[Our] 4th quarters usually begin to show a slowdown in demand, and this year is no different; prices are also dropping.? (Wood Products)
- ?Demand down slightly due to customers pre-buying ahead of announced material price increases.? (Plastics & Rubber Products)
- ?The slowing of capital expenditure in Europe and China has lowered our backlog for Q4.? (Computer & Electronic Products)
- ?We see a general softening in the steel and automotive markets in the fourth quarter.? (Fabricated Metal Products)
- ?Cuts in healthcare reimbursement rates continue to negatively affect top-line revenue.? (Miscellaneous Manufacturing)
- ?Business conditions stable to slightly improving.? (Transportation Equipment)
- ?Sales and order intake have slowed.? (Primary Metals)
- ?Europe is still very much a concern. Global recovery is still fragile.? (Chemical Products)
Therese Yacenda?is the Social Media Manager at?Accelerated Buy Sell, Inc.?and?Manufacturing Web Solutions?as well as a contributing author to the blog.?She orchestrates the social media landscape for the ?Accelerated Group of Companies? that provides tools and services to help manufacturers grow and exit strategies to maximize dollars when they are ready to retire or sell their manufacturing business. Accelerated?s group of companies that provide services to the manufacturing industry includes:
www.AcceleratedBuySell.com?? Provides Online Industrial Auction Services, Used Equipment Auctions, Capital Equipment Auctions, Plant Liquidations, Industrial Plant Cleanout Services, Used Machinery Location Services, Certified Machine Tool and Equipment Appraisals, and more.
www.AcceleratedMfgBrokers.com?? Specializes in Manufacturing Business Brokerage and Mergers and Acquisitions.? We help manufacturers develop exit strategies to maximize retirement dollars, and successful manufacturers expand through acquisition of other manufacturing companies, product lines and customer lists. ?Manufacturing Companies for sale throughout the United States are listed on this site.
www.AcceleratedRE.com?? Provides Industrial Real Estate Brokerage Services, Online Real Estate Auctions, Sealed Bid Real Estate Auctions and complete industrial facility cleanout services.
www.IgniteMfg.com?? Provides funding for products made in the USA, and engineering/manufacturing educational needs through Crowd Funding.
www.MfgWebSolutions.com?? Provides web development and social media services for manufacturers at under-market rates.
Therese Yacenda?is a contributing author to:
blog.AcceleratedBuySell.com?- A site that provides the latest manufacturing news, statistics and opinion.?? It also provides information on how to grow a manufacturing business, and what to do if you are a manufacturing company that needs to close.
MFGWebSolutions.com/blog?- Provides the latest information on social media and web development for manufacturers.? It gives manufacturers tips and tricks for boosting their web presence.
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