June 20, 2012 - The monthly Economic Indicators Report (EIR) from the Industrial Supply Association increased significantly in May, following two months of slower growth.
The report showed manufacturer activity in May at 63.09% compared to 58.92% the previous month and the distributor index at 62.42% compared to 57.8% in April. For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction.
Both numbers are good news for the industrial supply industry. Earlier in May, the Institute for Supply Management’s PMI registered 53.5% compared to 54.8% the previous month.
“While the expansion continues for the industry there is a growing sense of uncertainty for the economy at large,” said John Buckley, ISA executive vice president. “Yet while the darkening clouds of the world economy and the continued sluggishness of the overall U.S. economy are legitimate reasons for concern, the industrial supply industry continues to find ways to expand.”
For additional information contact John Buckley at [email protected] or 718-423-2113.
The Industrial Supply Association is the leading association for members of the maintenance, repair, operations and production (MROP) supply chain, representing nearly 1,000 companies worldwide.
