U.S. manufacturing boom continues
U.S. manufacturing posted its strongest numbers in more than three years, which seems to mirror the optimism I'm hearing around town.
The Institute for Supply Management's August PMI - an index used to measure the strength of the industry - registered at 59 percent. That marks 15 consecutive months of growth and the last time the index was higher was March, 2011.
A reading above 50 indicates the industry is in expansion mode.
Last month, almost every segment of the industry reported growth and the institute's index for new orders hit a 10-year high.
This is all good news for the Dayton area as manufacturing is critical to the local economy. A recent study shows the industry fuels $5.6 billion in annual payroll, nearly 20 percent of the total payroll in a 14-county region surrounding Dayton, according to the Dayton Region Manufacturers Association.
Here's just a few of the manufacturing growth stories we've recently posted:
How exports are fueling growth at Palmer Manufacturing & Supply Inc. in Springfield Auto parts supplier to add 120 jobs Xenia manufacturer sold Nationally-known economist: Now is the time for manufacturers to invest in growth
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