The manufacturing community go some good news on Monday, February 1, 2010. The Institute for Supply Management produces a regular report on the state of manufacturing in the US and the survey is done over purchasing managers. A score of over 50 means that expansion is taking place. It dipped way below 50 in 2009.
That index of manufacturing has not risen for six straight months and now stands at 58.4, the highest level since August 2004. This is very encouraging considering the condition of the manufacturing economy early last year.
This also bodes well for fluid power manufacturers because we supply components and other related parts and materials to manufactures for both OEM applications and to maintain the machines used for manufacturing.
This news also follows the same trend that fluid power component manufacturers are relating to me. Business has turned the corner and is showing an uptick. This is cause for optimism for 2010.