Wall Street Journal, “U.S. Manufacturing Posts Strong Expansion“:
Manufacturing activity in the U.S. turned in its best performance since May 2004 last month, as factory operators faced a big jump in raw materials prices, raising fears about rising inflation in the U.S….
On Tuesday, the Institute for Supply Management’s manufacturing index moved to a very strong 61.4 from 60.8 in January. The overall index had been expected to come in at 60.9. Readings over 50 indicate growth.
According to the February 2011 Manufacturing ISM Report On Business, “Economic activity in the manufacturing sector expanded in February for the 19th consecutive month, and the overall economy grew for the 21st consecutive month.”
Of the 18 manufacturing industries, 14 are reporting growth in February, in the following order: Apparel, Leather & Allied Products; Petroleum & Coal Products; Transportation Equipment; Electrical Equipment, Appliances & Components; Machinery; Chemical Products; Fabricated Metal Products; Computer & Electronic Products; Textile Mills; Food, Beverage & Tobacco Products; Printing & Related Support Activities; Paper Products; Wood Products; and Miscellaneous Manufacturing. The four industries reporting contraction in February are: Plastics & Rubber Products; Primary Metals; Nonmetallic Mineral Products; and Furniture & Related Products.
See also AP, “Manufacturing grew at fast pace.”
- Wall Street Journal, “Oil’s Rise Threatens Economic Growth“
- Globe and Mail, “Only a recession stands in the way of $200 oil“
- Milwaukee Journal Sentinel, “Oil prices near a dangerous point for economy“
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