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发表于 2011-2-1 10:37 AM
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ISM Manufacturing - Some Details
2/1/2011 10:28 AM EST
In today's ISM-Manufacturing report, we see strong growth in that sector. Norbert Ore, chair of the Institute for Supply Management Business Survey Committee, summed it up thus: "The manufacturing sector grew at a faster rate in January as the PMI registered 60.8 percent, which is its highest level since May 2004 when the index registered 61.4 percent. The continuing strong performance is highlighted as January is also the sixth consecutive month of month-over-month growth in the sector. New orders and production continue to be strong, and employment rose above 60 percent for the first time since May 2004. Global demand is driving commodity prices higher, particularly for energy, metals and chemicals."
Indeed, 14 of the 18 manufacturing industries reported stronger growth in January from December, with petroleum, metals, apparel, computers and transportation among some of the sectors reporting increased growth. However, some respondents cite the weaker dollar as boosting import costs for components and materials, and a few others say that growth is expanding but they are reluctant to hire.
However, the employment component of the survey was 61.7 - a big jump from the 58.9 reading in December, which might portend increased hiring in the sector. In the employment details, 24% of respondents reported higher employment, while 7% reported lower employment. The difference between the two is the largest in the past four months.
Where we see building cost pressures is in the prices paid component, which registered 81.5 - the highest since 2008. 64% of respondents reported paying higher prices in January - up from 48% in December - while only 1% reported paying lower prices, down from 3% in December.
Exports show continued growth, with that reading at 62.0, and 30% of respondents reporting higher export orders and just 6% reporting lower orders. The difference was the highest in four months. |
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