Factory numbers sluggish (But ISM index of manufacturing activity rises?)

[papau]

http://money.cnn.com/2004/03/31/news/economy/factories/index.htm

Factory numbers sluggish

Chicago PMI, February factory orders, show continued growth, but come in weaker than forecasts.
March 31, 2004: 10:25 AM EST

NEW YORK (CNN/Money) - The U.S. manufacturing sector continued to grow in February and March, according to two separate measures Wednesday, but both came in below forecasts by economists on Wall Street.

The National Association of Purchasing Management-Chicago said its index of regional manufacturing fell to 57.6 this month from 63.6 in February. Any index reading above 50 signals expansion in the sector, but economists, on average, expected a reading of 61, according to Briefing.com.

Separately, the Commerce Department said orders received by U.S. factories rose 0.3 percent in February, compared with a revised decline of 0.9 percent in January. Economists, on average, expected orders to rise 1.5 percent, according to analysts surveyed by Briefing.com. <snip>

Among the Chicago PMI's components, new orders fell to 60.4 from 67.5, its production index plunged to 59.1 from 73, and its prices-paid index rose to 75.7 from 66.9...employment index fell to 49.2 from 54.8 in February. Factory payrolls are 3.3 million jobs leaner than they were at their peak in March 1998...

<snip>The gains in the Commerce Department's factory orders report were due to a 9.6-percent jump in orders for transportation equipment, driven by a 61.4-percent increase in orders for defense aircraft...Excluding transportation, orders fell 1.2 percent, following a 0.9-percent gain in January. <snip>

http://money.cnn.com/2004/04/01/news/economy/ism/index.htm
ISM index rises
Closely watched measure of manufacturing activity posts surprising gain in March.April 1, 2004: 10:05 AM EST
NEW YORK (CNN/Money) -<snip> The Institute for Supply Management (ISM) said its index of manufacturing activity rose to 62.5 last month from 61.4 in February. Economists, on average, expected an ISM index of 59.5, according to Briefing.com.