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Increased Manufacturing and Staffing Orders in August
submitted by Court Donnell, The York Companies
According to the Associated Press, The U.S. manufacturing sector grew in August after shrinking for 18 straight months. The Institute for Supply Management, a trade group of purchasing executives, says its manufacturing index rose to 52.9 in August, from 48.9 in July. It's the first reading above 50, which indicates expansion, since January 2008. It's also the highest since June 2007.
Analysts polled by Thomson Reuters expected a reading of 50.5. The index, which includes new orders, production, employment, inventories, prices and more, is based on a survey of the Tempe, Ariz.-based group's members.
I wanted to give a quick look at what we are seeing in the staffing industry over the past 3 months and possibly some hope to those of you that are still not seeing the light at the end of the tunnel. We have experienced a great turn in business over the last 12 weeks due to pick up in orders from previous and new customers. This has been in all sectors of business and most importantly light industrial/manufacturing. General indicators within our industry predict that staffing will be back on track for normal volume in the 1st quarter of 2010. With this being said, it is widely believed that once staffing picks up all other sectors will pick up one quarter later. So continue to hang on - we are hopefully only 2 quarters away, don't be afraid of change, and do your best today for a better tomorrow.
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