Posts for April 12, 2010

April 12, 2010

Last week's economic news was again a field of green, with three of the four major economic reports improving. (To see all of last week's indicators, see the Latest Economic Reports section below.) The number of reports out last week was few in number and mainly focused on the service sector of the economy.

The Institute for Supply Management's survey of the non-manufacturing business sector improved for a third consecutive time in March, reaching a level of 55.4 (see the blue line in the chart above). This is the highest level since mid 2006 and is an early sign that the economic recovery may be broadening.

At the same time, consumer activity improved in March (see chain store sales represented by the red and green bars in the chart above). While some of this increase in consumer activity could have been caused by higher gasoline prices as well as pent up demand following the severe winter weather in February, the fact that March was the fastest monthly increase in chain store sales in the 18-year history of the survey signals that consumer spending may have had a better performance in the first quarter than the general consensus several months ago.

A plethora of information comes out this week that will help confirm the positive news that has been reported over the past several weeks. On the trade front global economic growth and the February international trade report will show if exports are continuing to lead the recovery. At the same time, various regional and national measures of industrial and housing activity will show the state of the recovery of the goods sector of the economy.

Dave Huether

Chief Economist

National Association of Manufacturers

PANEL NOT READY TO DECLARE END TO RECESSION

April 12, 2010 – Today in Manufacturing.net
National Bureau of Economic Research said that although most barometers show improvements in economy, it would be ‘premature’ to pinpoint the end of recession... continue

SURVEY SHOWS RECOVERY TO REMAIN SLUGGISH INTO 2011

April 12, 2010 – Late Wire at Manufacturing.net
The pillars of Americans' financial security -- jobs and home values -- will stay shaky well into 2011, according to an Associated Press survey of leading economists ... continue

STUDY: WORKLOADS INCREASED SINCE 2007

April 12, 2010 – Today in Manufacturing.net
Many companies have increased employees' workloads and put a higher priority on productivity since the recession began, according to a study released Monday... continue

ALLIANT ACQUIRES TACTICAL GEAR MAKER BLACKHAWK

April 12, 2010 – Late Wire at Manufacturing.net
Aerospace and defense company said it bought Blackhawk Industries Products Group Unlimited, which makes gear for military and law enforcement agencies ... continue