ISM manufacturing - 10:00 - late because link did not work

Full report here November 2009 Manufacturing ISM Report On Business® PMI at 53.6% DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country. The national report's information reflects the entire United States, while the regional reports contain primarily regional data from their local vicinities. Also, the information in the regional reports is not used in calculating the results of the national report. The information compiled in this report is for the month of November 2009. New Orders, Production and Employment Growing Inventories Contracting Supplier Deliveries Slower (Tempe, Arizona) — Economic activity in the manufacturing sector expanded in November for the fourth consecutive month, and the overall economy grew for the seventh consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®. The report was issued today by Norbert J. Ore, CPSM, C.P.M., chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. "The manufacturing sector grew for the fourth consecutive month in November. While the rate of growth slowed when compared to October, the signs are still encouraging for continuing growth as both new orders and production are still at very positive levels, and the Prices Index fell 10 points, signaling less inflationary pressure on manufacturers' costs. Overall, the recovery in manufacturing is continuing, but many are still struggling based on their comments." PERFORMANCE BY INDUSTRY In November, 12 of the 18 manufacturing industries reported growth. The industries — listed in order — are: Apparel, Leather & Allied Products; Printing & Related Support Activities; Petroleum & Coal Products; Miscellaneous Manufacturing; Electrical Equipment, Appliances & Components; Transportation Equipment; Chemical Products; Computer & Electronic Products; Food, Beverage & Tobacco Products; Paper Products; Fabricated Metal Products; and Machinery. The five industries reporting contraction in November are: Wood Products; Furniture & Related Products; Nonmetallic Mineral Products; Primary Metals; and Plastics & Rubber Products. WHAT RESPONDENTS ARE SAYING ... * "Becoming concerned about the value of the U.S. dollar." (Apparel, Leather & Allied Products) * "Low value of the dollar driving commodity costs higher." (Food, Beverage & Tobacco Products) * "Demand from automotive manufacturers remains strong and building." (Fabricated Metal Products) * "Capital construction seems to be picking up, and we are seeing more jobs that are bid out." (Electrical Equipment, Appliances & Components) * "Steady increase in business." (Primary Metals) COMMODITIES REPORTED UP/DOWN IN PRICE and IN SHORT SUPPLY Commodities Up in Price Aluminum (5); Copper (6); Copper Based Products (5); Natural Gas (2); Oil; and Steel (5). Commodities Down in Price No commodities are reported down in price. Commodities in Short Supply Electronic Components is the only commodity reported in short supply. Note: The number of consecutive months the commodity is listed is indicated after each item. PMI Manufacturing growth decelerated in November as the PMI registered 53.6 percent, a decrease of 2.1 percentage points when compared to October's reading of 55.7 percent. This continues the recovery in the sector, but at a slower rate of growth. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting. A PMI in excess of 41.2 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the PMI indicates growth for the seventh consecutive month in the overall economy, as well as expansion in the manufacturing sector for the fourth consecutive month. Ore stated, "The past relationship between the PMI and the overall economy indicates that the average PMI for January through November (45.4 percent) corresponds to a 1.3 percent increase in real gross domestic product (GDP). However, if the PMI for November (53.6 percent) is annualized, it corresponds to a 3.9 percent increase in real GDP annually." THE LAST 12 MONTHS