Manufacturing growth remains strong
Posted By:
Tom Sanderson
Date Posted:
Wednesday, January 12, 2011
10:00 AM
The Institute of Supply Management reported that the Purchasing Managers' Index (PMI) increased from 56.6 in November to 57.0 in December. This represents 17 consecutive months of growth and the highest index since May 2010. A PMI over 50 indicates growth while a PMI under 50 indicates contraction in the manufacturing sector of the economy. The index reached a low of 32.5 in December 2008 but then recovered more quickly than other areas of the economy and remains one of the brighter spots in the economy today. The vertical bars in the graph represent recessions.
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ISM manufacturing index