–Composite MAPA Index 61 in June, vs. 65 in March
–Eleventh Consecutive Quarter Index Above 50 but 8th Straight Decline
WASHINGTON (MNI) – U.S. manufacturing activity continues to expand,
albeit at a slower pace, according to the quarterly Manufacturers
Alliance For Productivity and Innovation survey released Thursday
morning.
The MAPI Composite Business Outlook Index fell to 61 from 65, the
eleventh straight quarter above 50 but also the eighth consecutive
quarterly decline.
A figure about the 50 threshold represents manufacturing expansion.
All 13 of the sub-indices were down for the quarter, including the
six current business conditions components. Four of the six indices
showed softening in the first quarter.
MAPI’s Senior Economist Donald Norman said “While the rate of
decline was relatively slow from June 2011 through March 2012, the drop
in the current quarter equals the decrease in the June 2011 survey, when
it also fell by four points from its previous level.”
The Current Orders Index fell seven points to 70, while the Annual
Orders Index, which measures expected orders for all of 2012 compared to
2011 dropped nine points to 79.
Backlogs were down 13 points to 58, while the Inventory Index stood
at 73, up six points.
The Exports Index dropped 16 points to 63, and the Prospective U.S.
Shipments Index declined two points to 75.
“Unsurprisingly, the Non-U.S. Prospective Shipments and Non-U.S.
Investment Indexes registered the sharpest declines, showing the effects
of the eurozone recession and the slowing growth in China,” Norman said.
Both of these indices declined 17 points for the quarter, each
currently standing at 60.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]
