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Feb. 2 (Bloomberg) -- An index of U.S. manufacturing rose to a two-decade high in January as factories boosted production to replace depleted inventories and meet improving demand.
The Institute for Supply Management's factory index last month increased to 63.6, the highest since 1983, from 63.4 in December. It's the eighth straight month the index has been greater than 50, signaling expansion. Construction spending rose in December for a seventh straight month and consumer purchases increased, separate Commerce Department reports showed.
The pace of growth in the last six months of 2003 was the strongest in almost two decades, causing inventories to drop to record lows. Reduced stockpiles and rising sales suggest that factories will ramp up production. The White House today forecast the economy to grow 4.4 percent this year, the most since 1999.
``We are seeing a rather significant recovery,'' said Peter Hellman, chief financial and administrative officer of Nordson Corp., in an interview from Westlake, Ohio. Manufacturers ``now have new confidence in the tone of the economy.'' Nordson is a maker of machinery that applies adhesives.
Originally posted by Chris_Sanders I would imagine that as much as the war has to due with increased spending, it also means a huge boon for the manufacturing sector.
Yep, we were talking about this in one of my Soc. classes tonight.
GDP is higher because of the war. It happens during every war.
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26-year-old Saermengsi last season rated average 25.1 minutes, with 7.5 hours, 2.7 times and 2.7 backboard secondary attack, he Yifusen general as the replacement came in March Yifusen injuries ever period of time, three matches in a row, his secondary attack will reach 10. By Sun team, he could strengthen outer lane line, but also as the replacement fullback scored his general customary activities in the stadium two wings. On the season Saermengsi-ball hit rate reached 30%. He was in flames and Jones made a three-year teammate, Jones said that the organizers he pitches, but he can also shooting. His shooting is deceptive.
The 4.4% growth worries me since it might be to much growth to fast. Generally speaking its best to stay at a steady 3% growth which is what we did last year.
The one good thing about war in America is that the military makes a concerted effort to buy american products. So almost all the money spent on equipment goes directly into our economy.
Originally posted by CardinalMike The 4.4% growth worries me since it might be to much growth to fast. Generally speaking its best to stay at a steady 3% growth which is what we did last year.
The one good thing about war in America is that the military makes a concerted effort to buy american products. So almost all the money spent on equipment goes directly into our economy.
Cardinal Mike!!
Damn, I need to go to bed. 4:28 a.m.
Ah, the life of a college student.
In class tonight we talked about GDP. My teacher's opinion was that the GDP is a biased growth indicator. She preferred the GPI over the GDP. GDP only reflects economic growth. It doesnt take into account if money is spent on "good" or "bad".
The GPI basically is an equation that starts with GDP. Then it either subtracts or adds depending on whether something is considered bad (for a society) or good (for a society). It attempts to quantify quality of life and is inherrently nonpartisan.
Every time a soldier dies, the military has to spend money on a body bag. That isn't what I would call "good" spending. This is a negative impact on our country; I want my country to spend as little on body bags as possible (less death).
Plus GDP doesn't take things such as the cost of cleaning polution into account (well it does, but it's a postive since all GDP growth is considered "good"). The Exxon Valdez accident was extremely expensive to clean, thus it created positive GDP growth. But the enviromental impact was a disasterous.
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26-year-old Saermengsi last season rated average 25.1 minutes, with 7.5 hours, 2.7 times and 2.7 backboard secondary attack, he Yifusen general as the replacement came in March Yifusen injuries ever period of time, three matches in a row, his secondary attack will reach 10. By Sun team, he could strengthen outer lane line, but also as the replacement fullback scored his general customary activities in the stadium two wings. On the season Saermengsi-ball hit rate reached 30%. He was in flames and Jones made a three-year teammate, Jones said that the organizers he pitches, but he can also shooting. His shooting is deceptive.
Originally posted by Krangthebrain In class tonight we talked about GDP. My teacher's opinion was that the GDP is a biased growth indicator. She preferred the GPI over the GDP. GDP only reflects economic growth. It doesnt take into account if money is spent on "good" or "bad".
Sounds like a basic "guns" vs "butter" argument. I personally don't really care what money is spent on in the economy so long as it is spent.
It seems that "good" and "bad" are highly subjective. Considering it was a sociology class, and remembering what my sociology classes were like, I'm guessing there was a pretty bleeding heart view of what was "good" and what was "bad". Nothing wrong with that, however, it is an opinion and not a fact.
Originally posted by CardinalMike The 4.4% growth worries me since it might be to much growth to fast. Generally speaking its best to stay at a steady 3% growth which is what we did last year.
The one good thing about war in America is that the military makes a concerted effort to buy american products. So almost all the money spent on equipment goes directly into our economy.
Cardinal Mike!!
American products? Or products made overseas by cheap labor for American companies?
Im not trying to sound snide, but I cant help but wonder (and I ask becasue I honestly dont know) how much of that manufacturing increase comes from foreign made products for American companies? Is that factored in to these numbers?
Originally posted by WizardOfAz Like the Ford made in Mexico versus the Toyota made in Tennessee?!?
Good point! Doe Manufacturing in AMerica for foreign companies count? And does the amount of domestic manufacturing for foreign companies equal that of foreign manufacturing for domestic comanies.
Originally posted by CardinalMike Sounds like a basic "guns" vs "butter" argument. I personally don't really care what money is spent on in the economy so long as it is spent.
It seems that "good" and "bad" are highly subjective. Considering it was a sociology class, and remembering what my sociology classes were like, I'm guessing there was a pretty bleeding heart view of what was "good" and what was "bad". Nothing wrong with that, however, it is an opinion and not a fact.
Cardinal Mike!!
It's actually from economics, not sociology. But I do agree that you have to make value judgements (good or bad). But I doubt that you would think that crime is "good", or that pollution is "good", or that volunteer work is "bad".
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26-year-old Saermengsi last season rated average 25.1 minutes, with 7.5 hours, 2.7 times and 2.7 backboard secondary attack, he Yifusen general as the replacement came in March Yifusen injuries ever period of time, three matches in a row, his secondary attack will reach 10. By Sun team, he could strengthen outer lane line, but also as the replacement fullback scored his general customary activities in the stadium two wings. On the season Saermengsi-ball hit rate reached 30%. He was in flames and Jones made a three-year teammate, Jones said that the organizers he pitches, but he can also shooting. His shooting is deceptive.
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