Economic report shows good December and year

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Transportation and equipment was the 10th highest performing industry in December, according to the Institute for Supply Management’s Report On Business. The other top performers, in order, were miscellaneous, petroleum, food, primary metals, industrial and commercial equipment and computers, electronic components and equipment, instruments and photographic equipment, paper and rubber and plastic products.

Economic activity in the manufacturing sector has grown for 31 straight months, including December, while the overall economy has grown the past 50 consecutive months, according to the report. Norbert Ore, chair of the ISM Manufacturing Business Survey Committee, says that the manufacturing segment performed well in 2005.

“In December, we saw a decline in the rate of growth of both new orders and production, but both indexes are at levels that support economic growth,” Ore says. “We saw a significant slowing in the upward pricing spiral that has been a source of continuing concern for manufacturers. A strong fourth quarter should carry significant momentum forward into 2006.”