Substantial Growth in the Wood Products Manufacturing Industry
June 2016The overall economy grew for the 84th consecutive month and economic activity in the manufacturing sector expanded for the third consecutive month in May 2016 according to the latest Manufacturing ISM report. The May PMI registered at 51.3%, an increase of 0.5% from the April reading at 50.8%.
Out of 18 manufacturing industries, 12 industries reported overall growth with Wood Products leading the pack. The Wood Products manufacturing industry reported the most growth in production and new export orders but also stated significant growth in the new orders category. Wood Products additionally reported paying lower prices during the month of May.
These indications show that for the Wood Products manufacturing industry the market is improving progressively in both orders and pricing.
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