Economy

xchrom

(108,903 posts)

47. Global Manufacturing Sees Uneven Recovery

Thu Mar 1, 2012, 12:20 PM

Mar 2012

http://www.bloomberg.com/news/2012-03-01/u-s-manufacturing-expands-at-a-slower-pace-as-ism-index-declines-to-52-4.html

he Institute for Supply Management’s factory index dropped to 52.4 from 54.1 in January, the Tempe, Arizona-based group’s report showed today. Readings above 50 signal growth. The median forecast of economists surveyed by Bloomberg News called for a gain to 54.5.

The figure is at odds with regional manufacturing data for the month, showing the factory expansion accelerated. While gains in auto sales and increased exports are contributing to growth in the industry, higher fuel costs and less inventory expansion may be limiting orders.

“With energy prices rising and the lift from inventories fading, there is a good chance growth will slow into midyear,” Aaron Smith, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, said before the report.

The median estimate of economists was based on 79 projections in the Bloomberg survey. Estimates ranged from 52 to 56.

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