Manufacturing grows at fastest pace in 6 years

Manufacturing grows at fastest pace in 6 years
Index rises to better-than-expected 60.4 in April, trade group says

By Tali Arbel
updated 22 minutes ago

NEW YORK - The U.S. manufacturing sector expanded at the fastest pace in nearly six years, as factories continue to lead the economy's rebound.

The Institute for Supply Management, a private trade group of purchasing executives, said Monday its manufacturing index rose to 60.4 in April from 59.6 in March. It's the ninth straight month of growth. A level above 50 indicates expansion.

It is the fastest pace of growth since June 2004 when the index was at 60.5.
...

ISM said its employment index, which measures employers' willingness to hire, rose to 58.5, the strongest level since January 2005, from 55.1 in March.

...

http://www.msnbc.msn.com/id/36911628/ns/business-stocks_and_economy/

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I hope this trend continues - I especially like the sentence I highlighted concerning jobs.

being at 60 is solid for growth.

Let's hope it continues as it's good for Dems in the fall (and BHO in 2012).

It is GOOD news!

http://www.usatoday.com/money/industries/manufacturing/2006-05-10-whirlpool_x.htm



BENTON HARBOR, Mich. (AP) — Whirlpool (WHR) said Wednesday that it will eliminate 4,500 jobs by closing three plants and consolidating corporate offices and other sites following its purchase of rival appliance maker Maytag. The moves come in the wake of Whirlpool's $1.8 billion acquisition of Maytag on March 31, extending its lead as the nation's biggest appliance maker.

Whirlpool plans to close Maytag washer and dryer plants in Newton, Iowa; Herrin, Ill.; and Searcy, Ark. Laundry manufacturing sites in Clyde, Ohio, and Marion, Ohio, will absorb the production, Whirlpool spokesman Daniel Verakis said.

Also slated to close are Maytag's corporate headquarters and research center in Newton, Iowa, as well as administrative offices in Schaumburg, Ill., Canada and Mexico.

Verakis said Whirlpool said the functions of the former Maytag corporate headquarters will be consolidated with those in Benton Harbor, where Whirlpool is based.

the jobs you are citing are being added are in Cananda, which is good for them. That sure dosent sount better to me!

Read the article here:

Whirlpool gets Ohio tax credit for freezer plant
POSTED: 08:52 a.m. EDT, Apr 27, 2010

OTTAWA, OHIO: State officials have agreed to give appliance maker Whirlpool Corp. a job tax credit worth $821,000 over seven years to expand operations at a northern Ohio freezer plant.
Whirlpool bought the factory in Ottawa last year from a Canadian company. It called back 125 workers in January but promised employment for only about three months. Now Whirlpool says it will keep the factory open and expand employment to 190 this year.

The Ohio Tax Credit Authority approved the job tax credit Monday.
Whirlpool, based in Benton Harbor, Mich., has about 10,000 workers in Ohio, with appliance factories in Clyde, Marion and Findlay.
___
Information from: The Blade, http://www.toledoblade.com/
OTTAWA, OHIO: State officials have agreed to give appliance maker Whirlpool Corp. a job tax credit worth $821,000 over seven years to expand operations at a northern Ohio freezer plant.

Whirlpool bought the factory in Ottawa last year from a Canadian company. It called back 125 workers in January but promised employment for only about three months. Now Whirlpool says it will keep the factory open and expand employment to 190 this year.

I didn't know that, but I do know that I lost my job when we acquired a large competitor - consolidation is never good, but it's not what you are making it out to be - your post is more deceptive than you are claiming that his is - shame on you.

but my point was that a little improvement here does not mean much when that many jobs or more are also being lost.

But I have seen nothing that is going to solve the high unemployment problem we have today, and until people have income they wont be spending, or paying into tax roles.

consolidation is never good for the consumer, never good for competition. We used to have a forth estate serving the public, now the airwaves and the press are owned by a handful of corporations.

I was ineffective making that point the first time around.

:dunce:

It really should be removed into its own thread. Also, your conclusions are also misleading and have nothing to do with the OP.

The jobs sited are in Ohio - why do you think they are in Canada? I do agree that Whirlpool may not have a net positive addition of jobs.

Here you have two American companies combining, Whirlpool and Maytag. Many former Maytag sites, many in Iowa where Maytag was headquartered are closing. There will be SOME additional jobs added in places where Whirlpool was - including Benton Harbor, Michigan and Ohio. When big companies merge, real pain is created in at least one - often both companies - though Wall Street is usually very happy.

That's fucked up logic.

Also, put me down for 1000 bucks on the Cardinals winning the World Series this year.

... going off a cliff, no matter what the usual clueless naysayers claim. Though they are a lagging indicator, jobs numbers should keep improving. Within a few years, national unemployment numbers should go down to their "normal" range of 5.5%-6%.

:kick:

still calling for Geithner's arrest. :wow:

Sub-thread removed by moderator. Click here to review the message board rules.

I am constantly amused at how many self-appointed experts here think they know how to govern this country's economy better than Team Obama when they have been proved wrong time and again since Day One.

say that Geithner should go back to Goldman Sachs... Geither has always worked in the public sector and has never worked for GS.

There's a recovery happening, but it's not helping at the polls yet. I know it will take a while to sink in, but we need to start driving the point home.

Democrats are the worst when it comes to self-promotion. Too many of them are too busy whimpering in a corner at the thought of the midterm elections instead of fighting tooth and nail to get the truth out.

The media only focuses on the "big" numbers. I'd say when it gets below 9% maybe. It may happen right around election time.

I guess our little visitor alerted the 'no good news is allowed' crew to do their handy work!

:think:

http://www.creditwritedowns.com/2010/04/us-gdp-growth-rate-is-unsustainable-recovery-will-fade.html

"The US turned in a fairly robust quarter in Q1 2010, with real GDP growth meeting expectations at 3.2% annualized. This comes on the back of a very robust annualized 5.6% growth in the previous quarter. This is the best growth two-quarter growth we have seen since 2003.

However, when one digs deeper, it is obvious this growth is unsustainable because it is predicated on a reduction in savings rates and a releveraging of the household sector. As a result, I expect weak GDP growth in the second half of 2010.

Read more: http://www.creditwritedowns.com/2010/04/us-gdp-growth-rate-is-unsustainable-recovery-will-fade.html#ixzz0mtDqyeJI


All the chanting in the world won't wipe the lipstick off the pig...

At least you are consistent - I've never witnesses you stating anything positive!

You are one sleazy poster. Jeez, I forgot you were off ignore. I'll fix that asap.

Hate Inc.

Of course, naysaying op-eds are a dime a dozen. All of them - and you - were wrong before.

I'll stick to hard economic facts as evidenced in the OP because all the Debbie Downer chanting in the world won't wipe Team Obama's success at saving the economy off the map. :)

bulletproof source there :eyes:

Just sayin'. Predicting the crash, but missing the recovery makes these people just as reliable as those that did the opposite.

Wow -- you folks really have learned all the nasty little tricks of the puke party. Proud of it?

So I'm not sure which tricks I learned from you. Why don't you tell me?

The dollar amount is mostly from big ticket items produced by a few and the quantity from edibles from the labor of many but little money. The general product manufacturing like electronics, cars, die and mold, and textiles that provided real wages to a lot of people is in deep shit as we all know.

Who says republicans are the only ones who hate Obama more than they love America?

:rofl:

the manufacturing jobs that pay a living wage are sparse and look to remain that way.

:rofl:

Can the other 4 people who would unrec this please identify yourselves and explain why?

I couldn't in a million years, ever dream that there would be people on this board, actually rooting for economic failure to prove a point.

ya never know, maybe somebody will fess up and explain their desire to see us fail

"ISM said its employment index, which measures employers' willingness to hire, rose to 58.5, the strongest level since January 2005, from 55.1 in March."

null and void, dontcha know?

:eyes:

Unless the plan is "moral victory through defeat" or some such thing....


mark