Numbers released by the Institute for Supply Management indicate manufacturing activity increased in April for the fifth consecutive month, while public construction was also up.
The manufacturing numbers were the strongest they’ve been since June 2004, and according to a piece in MarketWatch; “Norbert Ore, chairman of the ISM’s manufacturing survey committee, said there was no reason that the improvement in the factory sector couldn’t continue. [emphasis added] “Overall it is an excellent report. The manufacturing sector is in a significant recovery.”
Spending in the consumer market also increased significantly, to levels not only higher than just before the recession, but breaking previous all-time records. The rise was driven in large part by higher spending on autos, a welcome sign for manufacturers around the country and their distribution systems.
Overall economic indicators continue to trend up, a welcome sign for a work comp industry hammered by a long soft market, under-pricing, rising medical expenses, and reduced frequency.
Good news two days in a row…
May
4
