ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

Manufacturing Activity remains strong in May.

Print | 
Email |  Comment   Share  
June 4, 2010 - According to report by Institute for Supply Management, manufacturing recovery remained strong in May. Overall index edged down slightly from 60.4 in April to 59.7 in May, and there were no significant movements in most of survey components such as production or orders. Recent upturn in housing activity due to expiration of homebuyer tax credit is having positive impact on some industries, while rise in employment component report to 59.9 is highest level in 6 years.

Manufacturing Activity Remains Strong in May

(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)

National Association Of Manufacturers (NAM)
1331 Pennsylvania Ave. N.W.
Washington, DC, 20004

Press release date: June 1, 2010

Today's manufacturing report by the Institute for Supply Management shows that the manufacturing recovery remained strong in May. The overall index edged down slightly from 60.4 in April to 59.7 in May, and there were no significant movements in most of the survey components such as production or orders. The recent upturn in the housing activity due to the expiration of the homebuyer tax credit in April is having a positive impact on some industries such as wood products, electrical equipment and appliances, all of which reported increasing orders and production in today's report. However, when the effects of the credit wear off in the coming months, the manufacturing expansion will likely decelerate a bit.

The rise in the employment component of today's report to 59.9 - the highest level in six years - is a hopeful sign that this Friday's employment report will include a fifth consecutive increase in manufacturing employment in May. At the same time, the fact that the export component increased to 62 - the highest level in two decades - is encouraging and shows that exports are continuing to lead the expansion. This is good news for manufacturers since manufacturing dominates U.S. exports (59 percent), and more than a quarter of manufacturing employment is supported by exports. Looking ahead, we will be watching exports for any spillover effects of the European debt crisis into the U.S. economy.
Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


Post a comment about this story

(your e-mail address will not be posted)
Comment title:
To submit comment, enter the security code shown below and press 'Post Comment'.

 See related product stories
More .....
 See more product news in:
| Featured Manufacturing Jobs
 Other News from this company:
NACD and Associquim Sign Memorandum of Understanding
Good News on ACA Implementation - Kind of
Participate in Manufacturing Day - Mark Your Calendars for October 4!
Business Group Praises Bipartisan Introduction of Bill Preventing Costly and Unnecessary Regulation of Main Street Risk Management
Manufacturers Win in Fight Against NLRB Overreach
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story
Search for suppliers of
Trade Associations

Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy

Error close

Please enter a valid email address