U.S. Economy: May ISM Factory Index Rises to 62.8

[charrison]

A gauge of U.S. manufacturing unexpectedly rose last month to the highest in almost two decades as increased demand prompted more factories to hire than at any time in 31 years, an industry report showed.

The Institute for Supply Management's factory index for May rose to 62.8 from 62.4 for April. A reading greater than 50 signals expansion. The index reached 63.6 in January, the highest since December 1983. Construction spending rose in April for a third month, the Commerce Department reported separately.

Manufacturers are hiring workers and buying new equipment to boost production as sales improve. Inventories ended the first quarter at a record low compared with sales, suggesting factories still need to churn out more products to satisfy demand as it takes longer to fill orders.

``Delivery times are lengthening, and that's a sign that there isn't as much spare capacity as there was,'' said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. ``Companies may need to hire more.''

U.S. Treasury notes fell amid worries about inflation and speculation that Federal Reserve policy makers will start raising interest rates at the end of this month. The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

The employment index increased to 61.9, the highest since April 1973, from 57.8. The index of supplier deliveries, which measures how long it takes to get materials, rose to 69.4, the highest since April 1979, from 67.1.

linkage

 

[dmcowen674]

Originally posted by: charrison

A gauge of U.S. manufacturing unexpectedly rose last month to the highest in almost two decades as increased demand prompted more factories to hire than at any time in 31 years, an industry report showed.

The Institute for Supply Management's factory index for May rose to 62.8 from 62.4 for April. A reading greater than 50 signals expansion. The index reached 63.6 in January, the highest since December 1983. Construction spending rose in April for a third month, the Commerce Department reported separately.

Manufacturers are hiring workers and buying new equipment to boost production as sales improve. Inventories ended the first quarter at a record low compared with sales, suggesting factories still need to churn out more products to satisfy demand as it takes longer to fill orders.

``Delivery times are lengthening, and that's a sign that there isn't as much spare capacity as there was,'' said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. ``Companies may need to hire more.''

U.S. Treasury notes fell amid worries about inflation and speculation that Federal Reserve policy makers will start raising interest rates at the end of this month. The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

The employment index increased to 61.9, the highest since April 1973, from 57.8. The index of supplier deliveries, which measures how long it takes to get materials, rose to 69.4, the highest since April 1979, from 67.1.

linkage

Only NeoCons can try and pass this crap off as a good thing:

The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

"Companies may need to hire more.''

But will they??? 😕

 

[Riprorin]

We're now experiencing the largest economic expansion in 20 years. How often have you heard that mentioned in the mainstream press?

 

[charrison]

Originally posted by: dmcowen674

Originally posted by: charrison

A gauge of U.S. manufacturing unexpectedly rose last month to the highest in almost two decades as increased demand prompted more factories to hire than at any time in 31 years, an industry report showed.

The Institute for Supply Management's factory index for May rose to 62.8 from 62.4 for April. A reading greater than 50 signals expansion. The index reached 63.6 in January, the highest since December 1983. Construction spending rose in April for a third month, the Commerce Department reported separately.

Manufacturers are hiring workers and buying new equipment to boost production as sales improve. Inventories ended the first quarter at a record low compared with sales, suggesting factories still need to churn out more products to satisfy demand as it takes longer to fill orders.

``Delivery times are lengthening, and that's a sign that there isn't as much spare capacity as there was,'' said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. ``Companies may need to hire more.''

U.S. Treasury notes fell amid worries about inflation and speculation that Federal Reserve policy makers will start raising interest rates at the end of this month. The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

The employment index increased to 61.9, the highest since April 1973, from 57.8. The index of supplier deliveries, which measures how long it takes to get materials, rose to 69.4, the highest since April 1979, from 67.1.

linkage

Only NeoCons can try and pass this crap off as a good thing:

The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

"Companies may need to hire more.''

But will they??? 😕

the hiring index is way up....
Raw material cost more when there is more demand for raw materials...

Only dave could see this report as completely negative...

 

[dmcowen674]

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

A gauge of U.S. manufacturing unexpectedly rose last month to the highest in almost two decades as increased demand prompted more factories to hire than at any time in 31 years, an industry report showed.

The Institute for Supply Management's factory index for May rose to 62.8 from 62.4 for April. A reading greater than 50 signals expansion. The index reached 63.6 in January, the highest since December 1983. Construction spending rose in April for a third month, the Commerce Department reported separately.

Manufacturers are hiring workers and buying new equipment to boost production as sales improve. Inventories ended the first quarter at a record low compared with sales, suggesting factories still need to churn out more products to satisfy demand as it takes longer to fill orders.

``Delivery times are lengthening, and that's a sign that there isn't as much spare capacity as there was,'' said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. ``Companies may need to hire more.''

U.S. Treasury notes fell amid worries about inflation and speculation that Federal Reserve policy makers will start raising interest rates at the end of this month. The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

The employment index increased to 61.9, the highest since April 1973, from 57.8. The index of supplier deliveries, which measures how long it takes to get materials, rose to 69.4, the highest since April 1979, from 67.1.

linkage

Only NeoCons can try and pass this crap off as a good thing:

The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

"Companies may need to hire more.''

But will they??? 😕

the hiring index is way up....
Raw material cost more when there is more demand for raw materials...

Only dave could see this report as completely negative...

"Delivery times are lengthening, and that's a sign that there isn't as much spare capacity as there was,'' said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. "

Wrong, that's Customer dis-service and not able to get the job done because of greed having a skeletal crew do what really takes a heck of a lot more to get it done timely and half way right.

 

[charrison]

Originally posted by: dmcowen674

Originally posted by: charrison

Originally posted by: dmcowen674

Originally posted by: charrison

A gauge of U.S. manufacturing unexpectedly rose last month to the highest in almost two decades as increased demand prompted more factories to hire than at any time in 31 years, an industry report showed.

The Institute for Supply Management's factory index for May rose to 62.8 from 62.4 for April. A reading greater than 50 signals expansion. The index reached 63.6 in January, the highest since December 1983. Construction spending rose in April for a third month, the Commerce Department reported separately.

Manufacturers are hiring workers and buying new equipment to boost production as sales improve. Inventories ended the first quarter at a record low compared with sales, suggesting factories still need to churn out more products to satisfy demand as it takes longer to fill orders.

``Delivery times are lengthening, and that's a sign that there isn't as much spare capacity as there was,'' said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. ``Companies may need to hire more.''

U.S. Treasury notes fell amid worries about inflation and speculation that Federal Reserve policy makers will start raising interest rates at the end of this month. The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

The employment index increased to 61.9, the highest since April 1973, from 57.8. The index of supplier deliveries, which measures how long it takes to get materials, rose to 69.4, the highest since April 1979, from 67.1.

linkage

Only NeoCons can try and pass this crap off as a good thing:

The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

"Companies may need to hire more.''

But will they??? 😕

the hiring index is way up....
Raw material cost more when there is more demand for raw materials...

Only dave could see this report as completely negative...

"Delivery times are lengthening, and that's a sign that there isn't as much spare capacity as there was,'' said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. "

Wrong, that's Customer dis-service and not able to get the job done because of greed having a skeletal crew do what really takes a heck of a lot more to get it done timely and half way right.

You can only do that so long dave.....It appears the hiring has started.

 

[Ozoned]

Originally posted by: Riprorin
We're now experiencing the largest economic expansion in 20 years. How often have you heard that mentioned in the mainstream press?

If my memory serves me correctly, it is generaly after a huge round of tax cuts that something like this happens and gets press coverage.

 

[dmcowen674]

6-2-2004 Jobs Loss May Affect Who Wins The Vote

"To me this is all about corporate greed and corporate terrorism," said Pat Eslich, a die setter/operator at Timken for 16 years. "We've made every [productivity] goal they've asked us for. The terrorism comes from scaring the workers that their jobs won't be around. They keep telling us, be competitive, be competitive, be competitive. We do that, and yet they still ship our jobs overseas."

 

[charrison]

Originally posted by: dmcowen674
6-2-2004 Jobs Loss May Affect Who Wins The Vote

"To me this is all about corporate greed and corporate terrorism," said Pat Eslich, a die setter/operator at Timken for 16 years. "We've made every [productivity] goal they've asked us for. The terrorism comes from scaring the workers that their jobs won't be around. They keep telling us, be competitive, be competitive, be competitive. We do that, and yet they still ship our jobs overseas."

some quotes dave left out....

Now the factory is at the heart of an unlikely but intriguing subchapter in the presidential campaign. Timken, which has grown into a Fortune 500 giant, has declared the aging Dueber Avenue plant and two others in Canton to be "uncompetitive." In mid-May, it announced that it would close the factories unless workers represented by the United Steelworkers of America agreed to unspecified concessions.

...

But the company says its primary concern is the rising cost of benefits, such as pension contributions and a fully paid hospital plan. "The facts are we're not competitive with other U.S. unionized facilities," Saragian said. "We can make them competitive, but we can't do that without some assurances" from the union.

Sounds like this place does have cost issues...

 

[CADsortaGUY]

Originally posted by: charrison

A gauge of U.S. manufacturing unexpectedly rose last month to the highest in almost two decades as increased demand prompted more factories to hire than at any time in 31 years, an industry report showed.

The Institute for Supply Management's factory index for May rose to 62.8 from 62.4 for April. A reading greater than 50 signals expansion. The index reached 63.6 in January, the highest since December 1983. Construction spending rose in April for a third month, the Commerce Department reported separately.

Manufacturers are hiring workers and buying new equipment to boost production as sales improve. Inventories ended the first quarter at a record low compared with sales, suggesting factories still need to churn out more products to satisfy demand as it takes longer to fill orders.

``Delivery times are lengthening, and that's a sign that there isn't as much spare capacity as there was,'' said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. ``Companies may need to hire more.''

U.S. Treasury notes fell amid worries about inflation and speculation that Federal Reserve policy makers will start raising interest rates at the end of this month. The ISM's measure of prices paid for raw materials such as fuel held close to the highest since November 1979.

The employment index increased to 61.9, the highest since April 1973, from 57.8. The index of supplier deliveries, which measures how long it takes to get materials, rose to 69.4, the highest since April 1979, from 67.1.

linkage

Ah yes, even more indicators that the economy is on the right track and expanding. Thanks for the posting the news charrison.

CkG