The U.S. Electrical Equipment, Appliances & Components industry segment reported growth in December 2010, according to the latest Manufacturing ISM Report On Business. ISM said economic activity in the manufacturing sector overall expanded for the 18th consecutive month and the overall economy grew for the 20th consecutive month.
Of the 18 manufacturing industries covered by the report, 14 reported growth in January, including Electrical Equipment, Appliances & Components. A breakout of the different indexes follows:
NEW ORDERS. The Electrical Equipment, Appliances & Components sector was among the 12 industries reporting growth in New Orders.
PRODUCTION. The Appliance sector was among the 13 industries reporting growth.
EMPLOYMENT. The Appliance sector did not report growth or a decrease in employment In January.
SUPPLIER DELIVERIES. The Appliance sector was one of eight industry segments reporting slower supplier deliveries in January.
INVENTORIES. The Appliance sector was one of seven industries reporting decreases in inventories in January .
CUSTOMERS' INVENTORIES. The Appliance sector was one of eight industries reporting customer inventories were too low in January.
PRICES. The Appliance sector was among the 16 industries reporting paying increased prices during the month of January.
BACKLOG OF ORDERS. The Appliance sector was among the four industries reporting decreases in order backlogs in January.
NEW EXPORT ORDERS. The Appliance sector was among the 11 industries reporting growth in new export orders in January.
IMPORTS. The Appliance sector did not report an increase or decrease in imports during the month of January.
"The manufacturing sector grew at a faster rate in January as the PMI registered 60.8%, which is its highest level since May 2004 when the index registered 61.4%," said Norbert J. Ore, CPSM, C.P.M., chair of the ISM Manufacturing Business Survey Committee. "The continuing strong performance is highlighted as January is also the sixth consecutive month of month-over-month growth in the sector. New orders and production continue to be strong, and employment rose above 60 percent for the first time since May 2004. Global demand is driving commodity prices higher, particularly for energy, metals and chemicals."
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