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April 5, 2012
Economic activity in the manufacturing sector expanded in March for the 32nd consecutive month as the PMI registered 53.4 percent, an increase of 1 percentage point from February, reports the Institute for Supply Management, Tempe, Ariz.
According to ISM’s methodology, any reading above 50 percent indicates that the manufacturing economy is expanding. A PMI in excess of 42.6 percent, over a period of time, indicates an expansion of the overall economy. "The past relationship between the PMI and the overall economy indicates that the average PMI for January through March, 53.3 percent, corresponds to a 3.6 percent increase in real gross domestic product,” says Bradley J. Holcomb, chairman of ISM’s Manufacturing Business Survey Committee.
Additionally, ISM’s Production Index increased 3 percentage points from February's reading to 58.3 percent, and the Employment Index increased 2.9 percentage points to 56.1 percent.
Of the 18 industries included in the survey, 15 are experiencing overall growth, including primary metals, fabricated metals and miscellaneous manufacturing.
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2012 Directory of Master Distributors
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The Metal Center News Directory of Master Distributors—distributors who sell to other distributors—is an invaluable tool for service centers seeking new sources for special or hard-to-find products. Master distributors play an important role in the marketplace, giving service centers an alternative to buying in mill quantities and helping to remove redundant and excess inventories from the distribution channel.
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