The manufacturing industry continued its expansion to wrap up 2011, growing for the 29th consecutive month.
The purchasing managers’ index (PMI) rose to 53.9% in December, according to the Institute for Supply Chain Management (ISM). That’s an increase of 1.2% over November’s figures.
New orders, production and employment all increased at a greater clip than in November. In fact, the overall industry increased at its fastest rate in six months.
Of the 18 manufacturing sectors ISM tracks, these 9 industries posted growth:
- Apparel
- Leather and Allied Products
- Printing and Related Support Activities
- Textile Mills
- Petroleum & Coal Products
- Machinery
- Food, Beverage and Tobacco Products
- Computer and Electronic Products
- Primary Metals, and
- Paper Products.
Most of the manufacturers surveyed by ISM said the strong finish to the year gives them a stable base for continued growth in 2012.
