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"The manufacturing sector rebounded in December," said Norbert J. Ore, C.P.M., chair of the Institute for Supply Managementﾙ Manufacturing Business Survey Committee and group director, strategic sourcing and procurement, Georgia-Pacific Corporation. "A strong showing in New Orders drove the PMI upward, while the Production Index strengthened and helped push the PMI up by 5.5 percentage points. The question at this point is whether the manufacturing sector can continue to gather momentum during the first quarter of 2003."
ISM's PMI is 54.7 percent in December, an increase of 5.5 percentage points when compared to 49.2 in November. ISM's New Orders Index rose from 49.9 percent in November to 63.3 percent in December. ISM's Production Index rose 1 percentage point from 54.6 percent in November to 55.6 percent in December. The ISM Employment Index is at 47.4 percent for December, an increase of 3.6 percentage points when compared to the 43.8 percent reported in November.
Comments from purchasing and supply executives in some instances indicate improvement in new orders during December. But, there are still those who see little if any improvement in their business. The situation with Iraq appears to still be weighing on some. The uncertainty remains a deterrent to business.