The Manufacturers' Shipments, Inventories, and Orders report was released today. This report is called Factory Orders by the press and covers both durable and non-durable manufacturing orders, shipments and inventories. While new orders increased 1.3% from January, the first thing to notice is new orders have recovered to pre-recession levels.
The February 2012 ISM Non-manufacturing report shows the overall index increased +0.5 to 57.3%. The NMI is also referred to as the services index, or service sector index.
New Orders in Durable Goods, advance report, dropped -4.0% for January 2012. December durable goods new orders jumped by 3.2%, revised. While some will blame a business tax credit expiration, this report is across the board bad news.
U.S. manufacturing expanded in January primarily due to new orders and production. The January 2012 ISM Manufacturing Surveyincreased +1.0 percentage points to 54.1% PMI. December PMI was revised down, from 53.9% to 53.1% in the ISM's annual revisions. The revisions changed mainly due to the U.S.
New Orders in Durable Goods, advance report, increased +3.0% for December 2011. November durable goods new orders jumped by 4.3% and October was a 0.1% increase. This means for all of Q4, we have an increase in durable goods new orders.
U.S. manufacturing expanded in December primarily due to employment and production. The December 2011 ISM Manufacturing Surveyincreased +1.2 percentage points to 53.9% PMI.
U.S. manufacturing expanded in November. The November 2011 ISM Manufacturing Surveyincreased +1.9 percentage points to 52.7% PMI. Below is the manufacturing composite index, PMI, on an upswing, similar to August 2009.
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