A “healthy gain” for manufacturing in February
National Association of Manufacturers economist Chi Nguyen said a report by the Institute for Supply Management reported an uptick in manufacturing in February was a “health gain”. The ISM’s Purchasing Managers Index for manufacturing rose 1.9% in February to 56.7%.
“The manufacturing sector obviously heated up a bit in February,” she said, "and that's good news.PMI's indices for both new orders and manufacturing employment were also up 3.9% and 3.7%, respectively, and that bodes well for a nice finish for the first quarter and a solid start to the second.”
"Manufacturing's steady recovery appears to be staying on track as this is the 33rd consecutive month that the manufacturing index has stayed above 50," Nguyen said, explaining that an index above 50 indicates growth within the manufacturing sector.An index below 50 indicates contraction.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey