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Activity among members of the Industrial Supply Association continued to demonstrate strength in early 2012, according to the latest ISA Economic Indicators Report (EIR).
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The report, calculated similarly to the ISM’s Purchasing Managers Index (PMI), showed manufacturer activity in February at 63.99 percent, up from the January index of 62.64 percent. The distributor index was 64.83 percent, up from the January index of 64.11 percent.
For each index, a reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.
“This marks the 12th straight month that both indexes have remained in positive territory,” said John Buckley, ISA executive vice president. "Nearly 93 percent of reporting manufacturers and 79 percent of reporting distributors said year-to-date sales were higher this month compared to the same time last year, and both groups reported that new orders are trending higher this month compared to the previous month."
For the complete report, click here.