ISM-NY News

March 2014 Manufacturing ISM Report On Business®
4/1/2014

(Tempe, Arizona) —

Economic activity in the manufacturing sector expanded in March for the 10th consecutive month, and the overall economy grew for the 58th consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.

The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. "The March PMI® registered 53.7 percent, an increase of 0.5 percentage point from February's reading of 53.2 percent, indicating expansion in manufacturing for the 10th consecutive month. The New Orders Index registered 55.1 percent, an increase of 0.6 percentage point from February's reading of 54.5 percent. The Production Index registered 55.9 percent, a substantial increase of 7.7 percentage points compared to February's reading of 48.2 percent. Employment grew for the ninth consecutive month, but at a lower rate by 1.2 percentage points, registering 51.1 percent compared to February's reading of 52.3 percent. Several comments from the panel reflect favorable demand and good business conditions, with some lingering concerns about the particularly adverse weather conditions across the country."

Of the 18 manufacturing industries, 14 are reporting growth in March in the following order: Petroleum & Coal Products; Transportation Equipment; Furniture & Related Products; Paper Products; Printing & Related Support Activities; Plastics & Rubber Products; Fabricated Metal Products; Machinery; Textile Mills; Computer & Electronic Products; Nonmetallic Mineral Products; Food, Beverage & Tobacco Products; Chemical Products; and Primary Metals. The four industries reporting contraction in March are: Apparel, Leather & Allied Products; Wood Products; Electrical Equipment, Appliances & Components; and Miscellaneous Manufacturing.

WHAT RESPONDENTS ARE SAYING ...
  • "Seeing improvement in the overall economy. Hearing strong bookings in residential contractor and home repair work." (Paper Products)
  • "First quarter business still strong." (Fabricated Metal Products)
  • "Business beginning to heat-up, along with the weather." (Petroleum & Coal Products)
  • "Business is good and we are optimistic that orders will continue to come in at a decent pace." (Transportation Equipment)
  • "Year starting off very good. Outlook very bright for 2014." (Computer & Electronic Products)
  • "Export orders are picking up — volume is improving although pricing, and thus profitability, are still challenged. Domestic business seems to be holding steady despite earlier predicted declines." (Chemical Products)
  • "Short supply of hardwood lumber continues to challenge sales' ability to maximize volumetargets. Demand is sound." (Wood Products)
  • "Weather has created major delays on inbound materials and outbound sales. We need spring." (Food, Beverage & Tobacco Products)
  • "Economy is looking positive and commodities are stable." (Machinery)
  • "Business continues to improve." (Furniture & Related Products)

The full text version of the Manufacturing ISM Report On Business® is posted on ISM's Web site at www.ism.ws on the first business day of every month after 10:10 a.m. (ET).

The next Manufacturing ISM Report On Business® featuring the April 2014 data will be released at 10:00 a.m. (ET) on Thursday, May 1, 2014.

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