Manufacturing Expands in January, But Not Appliance Manufacturing Feb 2, 2012

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Economic activity in the U.S. manufacturing sector overall expanded in January for the 30th consecutive month - but the Electrical Equipment, Appliances & Components segment reported contraction in January, according to the latest Manufacturing ISM Report On Business. The report said the overall economy grew for the 32nd consecutive month.

"The PMI registered 54.1%, an increase of 1 percentage point from December's seasonally adjusted reading of 53.1%, indicating expansion in the manufacturing sector for the 30th consecutive month," said Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey Committee. "The New Orders Index increased 2.8 percentage points from December's seasonally adjusted reading to 57.6%, reflecting the 33rd consecutive month of growth in new orders. Prices of raw materials increased for the first time in the last four months. Manufacturing is starting out the year on a positive note, with new orders, production and employment all growing in January."

Of the 18 manufacturing industries tracked by the ISM report, nine reported growth in January, including:
* Apparel, Leather & Allied Products
* Petroleum & Coal Products
* Machinery
* Computer & Electronic Products
* Transportation Equipment
* Miscellaneous Manufacturing
* Fabricated Metal Products
* Paper Products
* Primary Metals

The seven industries reporting contraction in January -- listed in order -- are:
* Plastics & Rubber Products
* Furniture & Related Products
* Wood Products
* Chemical Products
* Food, Beverage & Tobacco Products
* Electrical Equipment, Appliances & Components
* Textile Mills

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