ISM manufacturing for February
- Highest since 2004
- Prior was 59.1
- Employment 59.7 vs 54.2 prior
- New orders 64.2 vs 65.4 prior
- Prices paid 74.2 vs 72.7 prior
- Prices paid highest since May 2011
- Full report
Lots to be optimistic about in this report.
Comments from the report:
- "Availability of electronic components, long lead times, allocations and constraints continue to wreak havoc in the purchasing cycle, with no end in sight at this time." (Computer & Electronic Products)
- "Our business saw [an] increase in fourth quarter, and it continued in January 2018. CapEx purchase deliveries are moving out globally." (Chemical Products)
- "Labor market continues to be tight for supply chain talent in the Southern California area. Overall economy is strong." (Transportation Equipment)
- "Employment is one of our biggest challenges. No labor available." (Food, Beverage & Tobacco Products)
- "Steel market is doing rather well. Everybody is out of what I need." (Fabricated Metal Products)
- "It seems the tax break for business is making a difference. Customers are spending more for capital equipment." (Machinery)
- "Hiring has picked up for direct-hire employees. Due to end-of-2017 performance and improvement in commodity price, there has been an increase in capital budget." (Petroleum & Coal Products)
- "Business is very strong, and our lines are running at full capacity." (Plastics & Rubber Products)
- "We expect to have a strong year in 2018. In expectation, we have added to our sales staff and plan on adding to our production staff." (Miscellaneous Manufacturing)
- "The weakening U.S. dollar in relationship to the yuan is starting to impact importing cost. We are starting to see more supplier price increases." (Electrical Equipment, Appliances & Components)
Virtually every comment there shows the economy running at full capacity (or hotter).
Powell is coming up next.
