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News provided by: Institute for Supply Management Nov 01, 2024, 10:00 ET New Orders and Backlogs Contracting; Production and Employment Contracting; Supplier Deliveries Slowing; Raw Materials Inventories Contracting; Customers’ Inventories Too Low; Prices Increasing; Exports and Imports Contracting TEMPE, Ariz. , Nov.
1, 2024 /PRNewswire/ — Economic activity in the manufacturing sector contracted in September for the sixth consecutive month and the 22nd time in the last 23 months , say the nation’s supply executives in the latest Manufacturing ISM ® Report On Business ®. We are anticipating a record sales volume for 2024.”
The eight manufacturing industries reporting growth in February — in order — are: Apparel, Leather & Allied Products; Nonmetallic Mineral Products; Primary Metals; Plastics & Rubber Products; Fabricated Metal Products; Chemical Products; Miscellaneous Manufacturing; and Transportation Equipment. We may increase our growth projections.”
The Prices Index climbed into expansion (or ‘increasing’) territory as new pricing levels for 2024 went into effect.” The four manufacturing industries reporting growth in January are: Apparel, Leather & Allied Products; Textile Mills; Transportation Equipment; and Chemical Products. TEMPE, Ariz. , Feb.
“Of the six biggest manufacturing industries, three — Transportation Equipment; Food, Beverage & Tobacco Products; and Petroleum & Coal Products — registered growth in August. The outlook for 2024 remains uncertain, and we continue to be cautious about building inventories.”
” [Food, Beverage & Tobacco Products] “Suppliers are starting to reach out looking for new business. Inventories aren’t changed much now but will be increasing soon. The reports on cooling inflation and consumer confidence are driving expectations of a very strong back half (of the year).”
“Of the six biggest manufacturing industries, two — Food, Beverage & Tobacco Products; and Transportation Equipment — registered growth in November. The three manufacturing industries that reported growth in November are: Food, Beverage & Tobacco Products; Nonmetallic Mineral Products; and Transportation Equipment.
“Of the six biggest manufacturing industries, two — Food, Beverage & Tobacco Products; and Petroleum & Coal Products — registered growth in September. ’ ” [Food, Beverage & Tobacco Products] “Markets remain soft. However, many forecasts are set for the beginning of 2024.
” [Food, Beverage & Tobacco Products] “Business is returning to pre-pandemic levels. ” [Transportation Equipment] “Pricing seems to be becoming the primary focus of supply and sourcing teams, as customers and consumers are beginning to push back. Supply shortages are limited to select items only.
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