Manufacturing activity continues to grow
Home & Textiles Today Staff -- Home Textiles Today, July 9, 2002
Tempe, AR — In one more unambiguous sign that the nation's economy is on the rebound, manufacturing activity expanded for a fifth straight month in June and grew at a faster pace than it had the month before, according to the index compiled by the nation's purchasing managers.
The Institute for Supply Management (formerly the National Association of Personnel Management) reported that its index of manufacturing activity climbed to a level of 56.2 in June, up from 55.5 in May, well ahead of the reading of 55.5 that analysts had been expecting.
Textiles, an industry that's been on the road to recovery since late last year, recorded not only a gain in production but a "strong upswing in hiring during June," said the purchasing managers' report.
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