Trucking News

Manufacturing Output Grows in November

Here’s some eye-catching data from the Institute for Supply Management (ISM):

New orders, which are commonly referred to as the engine that drives manufacturing, increased 1.7%, to 61.5, growing for the 18th consecutive month.
Production – at 61.5 – grew 2.2% from October, growing for the 18th consecutive month.
Supply Chain Challenges: ISM reports that raw materials shortages remain a constraint to production growth, along with factory floor staffing and direct-labor turnover.

Tim Fiore, Chair of the ISM’s Manufacturing Business Survey Committee described November as a “really high-quality month” and added, “We saw an easing in supplier deliveries by 3.4%, and we saw manufacturing inventories come off 0.2%. That was offset by production and employment growing.”

“These are not really bold movements but movements that are in the right direction, with the goal of equilibrium.”

When asked to assign a grade for the manufacturing sector over a year-to-date basis, Fiore graded it a “B.”

If you had to assign a grade to the manufacturing sector over on a year-to-date basis, what would you say?

#logistics #supplychain #manufacturing #employment