A Manufactured Boost to the Transportation Industry
Posted by Karen Thomas on Wed, Sep 01, 2010 @ 11:03 PM
Signs of life in the U.S. Economy have been spotty of late. Stock market fluctuations have investors on their toes, real estate markets have plummeted as tax rebates run out, and all the while consumers have remained attached to their dollars with looming unemployment reports hovering in double digits. The transportation industry though chugs along and had been successful on several fronts. As many know in the transportation industry, it's dependent on the production of goods and services and the need to transport them. Manufacturing has been privy to significant success as of late – directly benefiting the transportation industry.
The Institute for Supply Management™ (ISM) is the largest supply management association in the world as well as one of the most respected. ISM’s mission is to lead the supply management profession through its standards of excellence, research, promotional activities, and education. ISM’s membership base includes more than 40,000 supply management professionals with a network of domestic and international affiliated associations. ISM is a not-for-profit association that provides opportunities for the promotion of the profession and the expansion of professional skills and knowledge, (www.ism.ws.)
This past week, ISM reported that manufacturing increased just last month making it thirteen months in a row that the industries seen some gains.
According to The Associated Press, “The Institute for Supply Management said Wednesday its manufacturing index rose to 56.3 in August from 55.5 in July. A reading above 50 indicates growth. Manufacturing has helped lead the economy out of the worst recession since the 1930s. The trade group’s index has surged since late 2009 and hit a 6-year high in April. But as economic growth has slowed this summer, expansion in the manufacturing sector has leveled off.”
The favorable report boosted stocks today, which faltered earlier in the week.