“The PMI™ registered 57 percent, the second highest reading for the year, just 0.3 percentage point below November’s reading of 57.3 percent. The New Orders Index increased in December by 0.6 percentage point to 64.2 percent, which is its highest reading since April 2010 when it registered 65.1 percent. “– Bradley Holcomb, Institute for Supply Management.
Transportation Equipment; Primary Metals; Fabricated Metal Products; and Miscellaneous Manufacturing were among the markets reporting strengthening that are important to Precision Machining. Machinery; Electrical Equipment, Appliances & Components markets reported contraction in December.
Economic activity in the manufacturing sector expanded in December for the seventh consecutive month, and the overall economy grew for the 55th consecutive month according to ISM.
PMPA’s November 2013 Business Trends Report was similarly positive, despite seasonality at the highest value ever for a November at 116.
November is typically a slow sales month due to seasonal factors. The index is maintaining an average for calendar year 2013 of 122, and for trailing 12 months of 119. November 2013 shipments are 113% of October 2012.
The Employment Index registered 56.9 percent, an increase of 0.4 percentage point compared to November’s reading of 56.5 percent. December’s employment reading is the highest since June 2011 when the Employment Index registered 59 percent.
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