Manufacturing sector shows continued growth
June 11, 2002-- Home Textiles Today,
Tempe, AR — Economic activity in the key manufacturing sector grew for a fourth straight month in May, the nation's purchasing managers reported, setting the stage for continued momentum in the second half of the year.
In particularly good news, the textiles sector was highlighted in the monthly gauge of manufacturing activity, making gains in several key metrics, notably new orders, production, employment, order backlogs and export orders.
Pointing to a continuing recovery in the manufacturing sector, a crucial driver of the American economy, the Institute for Supply Management (formerly the National Association of Purchasing Managers) said its monthly gauge of manufacturing activity climbed to a level of 55.7 percent, up from a level of 53.9 percent in April.
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