ISM
ISM Manufacturing index for February
  • ISM manufacturing index for February 58.6% versus 58.0 estimate
  • Last month 57.6%
  • New orders 61.7 vs 57.9 last. Best since September 2021
  • Production 58.5 vs 57.8 last
  • employment 52.9 vs 54.5 last. 6th straight above 50.0
  • Supplier deliveries 66.1 vs 64.6 last
  • inventories 31.8 vs 33.0 last
  • prices 75.6 vs 76.1 last. 21st consecutive month above 50.0, but at a slightly lower rate.
  • backlog orders 65.0 vs 56.4 last
  • new exports 57.1vs 53.7 last
  • imports 55.4 vs 55.1 last
  • The gain is the 21st in a row above 50 level (last fell in April and May 2020)
  • All 6 of the biggest manufacturing industries registered moderate to strong growth in February

The 16 manufacturing industries reporting growth in February — in the following order — are:

  1. Apparel, Leather & Allied Products;
  2. Textile Mills;
  3. Paper Products;
  4. Transportation Equipment;
  5. Machinery;
  6. Miscellaneous Manufacturing;
  7. Primary Metals;
  8. Electrical Equipment, Appliances & Components;
  9. Computer & Electronic Products;
  10. Furniture & Related Products;
  11. Plastics & Rubber Products;
  12. Fabricated Metal Products;
  13. Food, Beverage & Tobacco Products;
  14. Nonmetallic Mineral Products;
  15. Chemical Products; and
  16. Petroleum & Coal Products.

The only industry reporting a decrease in February compared to January is Wood Products

What are the respondents saying:

  • “Electronic supply chain is still a mess.” [Computer & Electronic Products]
  • “Strong sales growth as retail continues to return.” [Chemical Products]
  • “Demand for transportation equipment remains strong. Supply of transportation services continues to be a major issue for the supply chain.” [Transportation Equipment]
  • “Strong demand has continued beyond our traditional seasonality curves. Coupled with the continuing difficulties in procurement of ocean freight, operational planning and managing costs are our biggest challenges.” [Food, Beverage & Tobacco Products]
  • “We have seen year-over-year revenue growth of about 10 percent due to markets coming back. However, in the automotive area, the microchip shortage is causing slowness in growth.” [Machinery]
  • “Demand for steel products has increased to historic levels, driven by the automotive and energy industries.” [Fabricated Metal Products]
  • “We are expecting a year of strong demand, higher prices and continued supply chain challenges.” [Textile Mills]
  • “Demand continues to be strong, increasing our backlog. Production has been more consistent due to availability of parts, but we are not able to increase builds to cut into the backlog.” [Electrical Equipment, Appliances & Components]
  • “Business conditions are good, demand remains strong, and we continue to be challenged to keep up with demand.” [Miscellaneous Manufacturing]
  • “Business is still strong. Facing logistics and raw material supply chain issues with some products.” [Plastics & Rubber Products]


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