ISM Manufacturing: Expansion Picking Up SteamMarch 1, 2013 @ 10:06 AM EST
Economic Update: ISM Manufacturing Index
The ISM (Institute of Supply Management) Manufacturing index shows that the manufacturing sector of the U.S. economy continued in expansion mode in February.
The all-important index, which is a proxy for the state of the manufacturing sector, was reported at 54.2 in February. The reading was above the consensus estimate for a reading of 52.4 and the best since June 2011.
Past reading for reference purposes:
January 2013: 53.1
- December: 50.2
- November: 49.5
- October: 51.7
- September: 51.5
- Aug: 49.6
- July: 49.8
- June: 49.7
- May: 53.5
- April 54.8
The Employment Index came in at 52.6, which was below last month’s reading of 54.0.
The New Orders component was reported at 57.8, which was also above last month’s reading of 53.3.
The Prices Paid component, which is a measure of inflation, came in at 61.5 vs. last month’s reading of 53.6.
The index is designed to indicate the state of the manufacturing sector in the U.S. Readings above 50 are indicative of expansion while below 50 suggests contraction in the sector.
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