Economy
March 2, 2021
ISM: Manufacturing Grows Despite Supply Challenges
Written by Sandy Williams
The latest manufacturing report from the Institute for Supply Management indicates a ninth consecutive month of growth for the nation’s economy. The ISM manufacturing PMI rose 2.1% to 60.8 in February with new orders and production gaining 3.7% and 2.5%, respectively.
“The manufacturing economy continued its recovery in February. Survey committee members reported that their companies and suppliers continue to operate in reconfigured factories,” said by Timothy R. Fiore, chairman of the ISM Manufacturing Business Survey Committee. “Issues with absenteeism, short-term shutdowns to sanitize facilities, and difficulties in hiring workers remain challenges and continue to cause strains that limit manufacturing-growth potential.”
