According to a new report released by the Institute for Supply Management, in December the U.S. manufacturing sector grew for the fifth straight month. The ISM's index of national factory activity rose to 55.9 from 53.6, putting it at its highest level since April 2006.
See the Reuters article for details.
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It is important to note that inventories continue to be "too low" for the 9th consecutive month suggesting that we are likely to see sustained growth in the manufacturing sector as a whole, with half of the 18 groups reporting growth: Apparel, Leather & Allied Products; Petroleum & Coal Products; Computer & Electronic Products; Machinery; Electrical Equipment, Appliances & Components; Transportation Equipment; Paper Products; Furniture & Related Products; and Food, Beverage & Tobacco Products. On an individual industry basis the picture is not as universally rosy with 7 groups reporting declines: Wood Products; Nonmetallic Mineral Products; Miscellaneous Manufacturing; Plastics & Rubber Products; Chemical Products; Printing & Related Support Activities; and Fabricated Metal Products.
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