The government's ISM Manufacturing index increases by 3.5 points in December reaching a high of 58.4. This cyclical peak has not been reached since 2003. December marked the sixth consecutive month that the index was above 50 points, meaning that there has been consistent activity in the manufacturing sector. The production component of the manufacturing sector jumped 6.5 points to a total of 66.2. This is more proof that that gains in the manufacturing industry are going to continue. "New orders also came in strong at 65.9 indicating likely future expansions in output. Firms are also beginning to increase payrolls at a modest pace with the employment component improving 3.1 points to 53.3, which is a significant amount above the expansionary threshold. This suggests that payroll data may soon show employment gains in manufacturing." Things are looking up in the manufacturing industry from the month of December.
1 comment:
This is an interesting article especially since Dr.Bever said that jobs in manufacturing will decrease as they require no skill unless workers are being hired to repair machinery.
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