U.S. manufacturing at a 3-1/2 year high

[babylonsister]

Manufacturing at a 3-1/2 year high
Purchasing managers' index of manufacturing activity shows growth for the third straight month, indicating a 'sustainable recovery.'


NEW YORK (CNNMoney.com) -- A key index of U.S. manufacturing activity jumped in October, reaching its highest level in three and a-half years, a purchasing managers' group said Monday.

The Tempe, Ariz.-based Institute for Supply Management's (ISM) manufacturing index rose to a reading of 55.7 in October from 52.6 the month before. It was the highest reading since April 2006 when the index registered 56.

Economists were expecting a reading of 53, according to consensus estimates gathered by Briefing.com.

"This is another clear sign the recession is over, and the recovery has begun," said Adam York, an economist at Wells Fargo.

The monthly report is a national survey of ISM members, who are purchasing managers in the manufacturing field. Index readings above 50 indicate growth, while levels below 50 signal contraction. Readings below 41.2 are associated with a recession in the broader economy.

The index first showed growth in August after 18 months of contraction. It dipped slightly in September from the previous month, but has held above the level indicating growth for three months in a row.

"The jump in the index was driven by production and employment," said Norbert Ore, chair of the ISM's manufacturing business survey committee. "Overall, it appears that inventories are balanced and that manufacturing is in a sustainable recovery mode."

more...

http://money.cnn.com/2009/11/02/news/economy/ISM_manufacturing_October/

[PretzelWarrior]

1. oh good. I can pay attention to this because it's not the 'fake' economy

[YOY]

2. Um...OK. Still not seeing the change but hoping it's true.

n.t.

[sellitman]

3. No jobs...no recovery

I haven't seen the news article where the factories are being closed in China and being brought to our shores.

Guess I missed that edition.

[NNN0LHI]

4. How about closed in Germany and brought to our shores? Will that do?

http://www.reuters.com/article/companyNewsAndPR/idUSL229405320091102

Ford weighs car exports from U.S. - CEO in paper

Mon Nov 2, 2009 4:18am EST

FRANKFURT, Nov 2 (Reuters) - Ford Motor Co (F.N) is considering exporting cars made in the United States as a way to exploit its manufacturing flexibility, global vehicle platforms and the weak dollar, industry paper Automotive News reported on Monday.

"It's all a business decision, and it's part of our plan to be flexible and be able to move up and down much easier, which allows us to support different markets," it quoted Ford Chief Executive Alan Mulally as saying in an interview.

It quoted sources as saying a plan was forming to export the Kuga crossover model from a U.S. production site.

Automotive News said the Kuga is now assembled in Germany for sale in Europe. In late 2011, Ford plans to start assembly of the next generation of the vehicle in Kentucky. It will replace the Escape crossover.

In addition to the U.S. models, Ford is expected to build European-specification Kugas in Kentucky for export, it quoted the sources as saying.

[sellitman]

6. Best reply of all!!!!!!

Thank you.

That made me smile.

Obviously the kind of post I just love to wrong about.

Time will tell.

[PretzelWarrior]

5. jobs are last, dude. you've never worked in manufacturing planning, perhaps.

I have. It is my career. We don't go recommending broad increases in staffing until there is obvious and sustained growth. So clearly the manufacturing numbers are a good sign and prelude to possible addition of jobs in coming months.

P.S. most years, hiring starts to take off in February. That will be my guess for this round too.

[sellitman]

7. I hope you are right.

Signed

"The dude"

[madrchsod]

8. actually i know of one!

a rather well known company in this country decided to contract with a chinese company for some products they did`t have the capacity in their us plant. so everything was going well until the factory in china produced hundreds of thousands of defective parts and finished products. it became worse when the factory owners and management walked out the door and never came back! the workers did`t get paid and the company had to ship back thousands of parts and finished goods to inspect them. the company is weighing the option of expanding in the usa or staying in china. knowing the make up of the company i`m betting they will expand their us operations. china maybe cheap but this adventure cost them at least million.

[endless october]

9. manufacturing sucked three years ago

but it sucks worse now. i don't know which areas are seeing this "increase."

i'd like to see a whole lot more goods made here in the states.

[TexasObserver]

10. Recommend

[ProSense]

11. More information

here

[babylonsister]

12. Thanks, Pro! nt