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Manufacturing industry shows growth in February

Posted on March 4th, 2014 Read time: 1 minutes

The U.S. manufacturing industry showed positive growth in February, despite the harsh winter. The Institute for Supply Management (ISM) index, which gauges manufacturing activity, increased to a reading of 53.2 for February, a jump for January's figure of 51.3, according to ISM.

The growth in February is better than expected as respondents to a survey conducted by MarketWatch believed the index would reach 52.5 for the month. The new orders index also saw increased gains as it improved to 54.5 from 51.2 in January.

Despite an overall growth in the industry, the harsh winter conditions caused a slight halt in production. ISM's production index fell 6.6 points from January to stand at a reading of 48.2, the lowest figure since May 2009. Richard Moody, chief economist of Regions Financial, believes the industry will see better business in the coming months.

"All in all, the ISM's February report on manufacturing is encouraging and we look for a faster rate of expansion in manufacturing activity once we are finally clear of what has been an exceptionally harsh winter,"

As different enterprises begin to grow, companies may need to hire new workers in order to meet the demands of their businesses. Hiring temporary workers is a great way for companies to expand their business models and add employees in the process.

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