C Marshall Fabrication Machinery, Inc.

Manufacturing Grows At Fastest Pace Since June

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The AP (5/2, Rugaber) reports, “US manufacturing grew last month at the fastest pace in nearly a year. New orders, production and a measure of employment all rose.” The Institute for Supply Management “says its index of manufacturing activity increased to 54.8 in April. That’s the highest level since June and up from 53.4 the previous month.”

CNN Money (5/2, Censky) reports, “Manufacturers reported that as new orders for their goods rose in April, factories ramped up production at a faster pace.” Manufacturers “also hired more workers, a welcome sign ahead of the government’s jobs report on Friday.” CNN Money notes, “Gradual improvement in manufacturing has been a bright spot in the economic recovery. Manufacturers added 120,000 jobs in first three months of the year, according to separate data collected by the Labor Department.”

Bloomberg News (5/2, Kowalski) reports, “The group’s orders gauge climbed to the highest level in a year, while its production measure put it its best performance since March 2011 and employment advanced to a 10-month high, today’s report showed. The group’s export index also improved.” According to Bloomberg News, “Stronger auto production bolstered the US economy from January through March, which may keep supporting manufacturing.”

IndustryWeek (5/2, Minter) reports economist Alistair Bentley with TD Economics “said price pressures on manufacturing ‘appear to have reached a near-term peak, as energy and commodity prices stabilize’ following their increases earlier this year.”

AFP (5/2) adds, “The manufacturing sector has been a driver of the US recovery from the deep 2008-2009 recession. But a steady drumbeat of disturbing economic and financial news from the eurozone and elevated oil prices cast a cloud over expectations, the firm said. ‘Comments from the panel generally indicate stable to strong demand, with some concerns cited over increasing oil prices and European stability,’ said Bradly Holcomb, head of the ISM manufacturing survey committee.”

From SME Daily Executive Briefing 5/2/2012

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C Marshall Fabrication Machinery, Inc.