Paying close attention to the Institute for Supply Management’s monthly report helps top industry leaders analyze how well the manufacturing sector does. It is the leading indicator of commerce, providing an insight into overall performance. Although the manufacturing industry has dipped in the past, it is clearly gaining speed.
Bloomberg’s recent reporting on the ISM index for December shows that the industry expanded at its fastest pace in 2 years. Many indicators are looked at to determine the index. Readings over 50 indicate growth—in December the index grew for the fourth straight month to 54.7.
Orders swelled by 7.2 points with export orders the strongest since May 2014. Rising exports build confidence and keep factories running. With more orders comes more jobs–factory hiring was the highest since summer of 2015–indicating a positive outlook for production.
The National Association of Manufacturers (NAM) released a digital campaign to support the new Washington administration’s promise to support the growth of American manufacturing. NAM speaks for all of us as we wish the President luck; we are optimistic that the advancements we are seeing will continue.
The manufacturing industry’s success is our success. Here at Astro, we work with customers throughout the globe to deliver machines and parts that span every aspect of manufacturing. Through our exceptional machining capabilities, we are ready to support new American manufacturing operations with custom automation machinery, components, and fabrications. Our company has the experience to deliver world-class solutions to a wide variety of industries including medical, food, energy, pharmaceutical, and general manufacturing.
The reports indicate that the manufacturing industry is heading in the right direction. New operations and more jobs are the answer to a stable national economy. We are ready to do our part!