Manufacturing grows at fastest pace in 3 years

[NJmaverick]

Source: Associated Press

WASHINGTON - A private trade group said Monday that manufacturing activity last month grew at the fastest pace in more than three years, a sign the pace of recovery is picking up.

The Institute for Supply Management, a trade group of purchasing executives, said its manufacturing index read 55.9 in December after 53.6 in November. A reading above 50 indicates growth.

Analysts polled by Thomson Reuters had expected a reading of 54.3.


Read more: http://www.msnbc.msn.com/id/34687608/ns/business-stocks_and_economy/

---

Yet more good news showing the economy is turning around and getting better.

[elleng]

1. Manufacturing what, where?

[dmallind]

3. And where do you think the US ranks in manufacturing output? NT

[wordpix]

28. and where are these "factories"? the ones in my town are gone

in Lieberman's Connecticut.

[dmallind]

35. If your town were all the nation that would be meaningful

And actually CT is doing better than the nation in unemployment (8.2% compared to 10%)

BTW Careerbuilder lists 410 jobs for manufacturing in CT. Hartford, Stratford, New Haven, Stamford, Bridgeport, Norwalk, Shelton, Bloomfiled and Danbury lead the pack but multiple openings in Windsor Locks, East Hartford, Sourth Windsor, Windsor, Middletown, Waterbury, Wallingford, Milford, Farmington, Putnam, New Britain, Torrington, West Haven, North Haven, Seymour, Southbury, Meriden, Manchester, Southington and Hamden so safe to assume there are hiring factories in each of them. To be sure Careerbuilder has some listings of dubious quality, but none of the first page seem to fall into that camp and of course Careerbuilder is only one source of job openings not utilized by all manufacturing firms.

Here's the first page of their skilled labor oprnings - all look legitimate and cover a wide range of skill sets.

No that does not mean jobs are easy to get in CT or anywhere else, or that one in your exact field in your exact town exists when you want it or need it (there is no implicit or explicit guarantee that you should be provided a job without changing either your locatiin or your skills). It does however mean that on the whole your state is less badly off than most, and that multiple manufacturing jobs exist throughout the state.

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[wordpix]

39. it's meaningful to those out of work in my town, which used to have a manufacturing base

but no longer does

[The Doctor.]

44. They've been putting McDonalds in Wal-Marts.

Tim Horton's have been opening up too.

[bossy22]

45. US ranks at the top

for every $1 the number two country produces (china), the US produces $2.50

[NJmaverick]

4. Here

"The index, which also includes production, employment, inventories and prices, first showed growth in August after 18 months of contraction."

[LanternWaste]

24. ISM classifies such diverse units as agriculture, metal ores...

ISM classifies such diverse units as agriculture, metal ores, gas and drilling services, heavy construction, pipe & sewer lines, electrical work, textiles, food processing, lumber, iron and steel foundries, etc.

[wordpix]

27. that's my question, too

?????

[dmallind]

2. But "they" are manipulating this

I have no idea who "they" are but I suspect those "corporatist banksters" who secretly hide all the terrible news and put out the fake good news. Obviously they have brainwashed hundreds of purchasing and supply chain managers who contribute to this survey....

[NJmaverick]

5. !

:spray:

[dmallind]

6. Sometimes the dripping red icon is unnecessary even here,,, NT

[NJmaverick]

7. I got you

:hi:

[JNelson6563]

10. lolz

:toast:

[Kolesar]

14. It needed to be said

lol

[endless october]

8. bullshit. nt

[NJmaverick]

11. LOL!

:rofl:

[Lindsay]

9. Maybe.

Krugman is not so sure:

Such blips are often, in part, statistical illusions. But even more important, they’re usually caused by an “inventory bounce.” When the economy slumps, companies typically find themselves with large stocks of unsold goods. To work off their excess inventories, they slash production; once the excess has been disposed of, they raise production again, which shows up as a burst of growth in G.D.P. Unfortunately, growth caused by an inventory bounce is a one-shot affair unless underlying sources of demand, such as consumer spending and long-term investment, pick up.

http://www.nytimes.com/2010/01/04/opinion/04krugman.html

[groundloop]

13. It appears that this is more than a "blip"

More and more positive signs are showing up, such as employment improving. Granted it has a ways to go, but it's good that it's improving rather than getting worse.

ALSO, I was just in a meeting and my employer (a manufacturer in the communications/telecom industry) is projecting solid growth in sales this year. I'm optomistic.

[Quixote1818]

33. My Boss ownes his own company and reps for Books Are Fun

He had the best fall he ever had with Books Are Fun. The numbers were off the chards! However, they sell discount books and gifts to teachers which is a pretty stable working group and I think discount stuff is often recession proof. Still, I think it is a positive sign that people are buying more than they were.

[NJmaverick]

15. Krugman's article is arguing against using this news to stop the stimulus

not to claim this isn't good news.

[Quixote1818]

29. And all these companies ran out of stock at the same time?

Thats hard to believe. It's probably a mix of the economy picking up and some companies running out of stock.

[Pirate Smile]

12. No good news allowed here. It must be a conspiracy. The Right doesn't want the economy to improve

because Obama & Dems will get credit and then there is a segment on the left that doesn't either. Hmmmm. I'll bite my tongue. ;)

[DavidDvorkin]

16. This is good news for John McCain!

Oops, sorry. Now on DU we're supposed to say, "This is another sign of the disaster facing the Democrats in November."

[NYC_SKP]

17. Well this just proves that Obama is a corporatist!!11!!!

The stock market recovery was the first sign.

:evilgrin:

[jpak]

18. What we need is a Pom-Pom Smiley - for stories like this

:thumbsup:

[NJmaverick]

19. A whine and teeth nashing smilie would get much more use

[berni_mccoy]

20. Excellent news. K&R.

[burning rain]

21. I guess this leaves the foul, loathsome GOP & teabaggers to pray for a double dip!

Scum that they are.

[Lost4words]

22. you are being sarcastic right?

because I dont assume you could be so gullible.

[dmallind]

23. Quick question - do you know what this statistic measures?

It's one of the best leading indicators out there because it comes directly from the people who are the gatekeepers of upcoming manufacturing activity - the people, like me, who place purchase orders to manufacturing firms. It's a pretty accurate measure because it is not based on sentiment but on activity. It is however a leading indicator. These purchase orders are not all fulfilled yet.

Do you know what has happened to average hours worked in manufacturing over the last few months - the best real time measure of activity? And how that ties into lagging indicators like hiring, and when?

[Lost4words]

26. Yes I do, and I have heard it all before, one slight uptick is not an indication of a greater trend.

This might bode well for the remaining industry in the USA but its a long way to any substantial recovery.

I am not ready to put on the party hats if you dont mind.

[dmallind]

32. Who is?

If you understand it, then you know what five months's of showing growth means. You know what indicators start growing before others, and you should also understand the difference between the start of a recovery and the party after the recovery,

[Lost4words]

37. May God forgive me for insulting purchasing mngr surveys everywhere

run along

[NJmaverick]

25. Are you serious? Are you that anti-Obama that any good news must be bad

because you believe in your own infallibility over the facts you are presented with?

[Teaser]

30. There is no good news. Ever.

It's not just an idea. It's policy here.

[Lost4words]

34. And you have been participating in our democracy how long?

No, its not policy, its relevant observation by another person who has a different view of things than yourself. You would do well to consider this opposing viewpoint rather than casting it aside as meaningless drivel. But you know better and I must be an old fool.

[Teaser]

41. "But you know better and I must be an old fool."

so we're agreed then?

[Lost4words]

31. oh please,,, If there is ANYTHING I am aquainted with its my own

fallibility as is relates to global unregulated markets.

good luck to you in the future

[Common Sense Party]

36. "Unregulated markets"? Where? Can you show me one?

I'd LOVE to participate in an "unregulated" market! I could really rip some people off!

[Lost4words]

38. You knew exactly what I meant. Dont be so trite!

[madrchsod]

40. ya right....get back to me when there`s new factories being built

[Plucketeer]

42. I have to agree

Somewhere, there's some minister of industrial manufacturing wearing a smug grin, between courses of dim sum.

[pampango]

43. Europe, too. "European Manufacturing Growth Fastest in 21 Months"

http://www.businessweek.com/news/2010-01-04/european-manufacturing-expanded-for-third-month-in-december.html

"Europe’s manufacturing industry expanded at the fastest pace in 21 months in December after a pickup in global trade helped the euro region emerge from the worst recession in at least six decades."

" Manufacturing activity in the U.K., the largest market for euro-area goods, increased to the strongest in more than two years in December, data showed today. Chinese factory activity expanded by the most in five years in December, supporting estimates that growth has accelerated to more than 10 percent in the world’s third-biggest economy.

U.S. manufacturing probably expanded at a faster pace in December, capping a 2009 rebound that helped pull the U.S. out of the worst recession since the 1930s, economists said before a report today."

[Blue Owl]

46. Manufacturing Consent?

:hide: