Production index slows in January.TEMPE, AZ -- The PMI See Private Mortgage Insurance. index of U.S. manufacturing started 2006 the way it ended 2005: on a downward trend but still well above breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations . The January January: see month. PMI was 54.8%, down 0.8 points from the revised December December: see month. figure, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the latest Institute for Supply Management (www.ism.ws) poll. A score over 50% shows expansion. "The manufacturing sector had another good month during January. New orders and production remain relatively strong, and the panel of respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. is generally upbeat about their business," said ISM chairman Nobert Ore. "It appears that the sector has recovered from the disruptions and dislocations caused by the hurricanes in the Gulf Coast." In January, new orders fell 1.1 points to 58%, while production fell 1.2 points to 56.6%. Backlogs were up 4 points. Inventories at manufacturers and customers dropped 0.8 and 2 points, respectively. Employment was down 2.3 points, to 51.3. The categories of electronic components and equipment, and industrial and commercial equipment and computers both reported growth during the month.
A PC YEAR
Trends in the U.S. electronics equipment market (shipments only).
% CHANGE
OCT. NOV. (r) DEC. * YTD
Computers/electronics products 0.8 0.6 3.2 9.9
Computers 8.7 3.4 2.3 34.4
Storage devices -9.6 3.1 22.5 7.1
Other peripheral equipment 1.2 -2.7 5.2 -4.3
Nondefense -2.2 -5.5 4.1 5.4
communications equipment
Defense communications equipment 8.2 8.7 8.0 10.0
AN equipment 1.7 3.3 8.0 7.2
Semiconductors -1.8 5.1 3.3 5.8
Components (1) -3.0 -1.8 3.1 18.2
Nondefense search and -3.2 6.9 -2.8 7.1
navigation equipment
Defense search and 3.0 -4.5 0.0 8.0
navigation equipment
Medical, measurement and control 2.7 0.4 1.4 0.1
(r) Revised. * Preliminary. (1) Includes semiconductors.
Seasonally adjusted.
Source: U.S. Department of Commerce Census Bureau, Feb. 3, 2006
SEPT. OCT.
PMI 59.4 59.1
New orders 63.8 63.8
Production 63.1 63.1
Inventories 49.6 49.6
Customer inventories 44.5 44.5
Backlogs 55.0 55.0
NOV. DEC. JAN.
PMI 58.1 55.6 54.8
New orders 61.7 59.1 58.0
Production 62.0 57.8 56.6
Inventories 48.1 47.3 46.5
Customer inventories 41.0 48.0 46.0
Backlogs 55.5 49.5 53.5
Source: Institute for Supply Management, February 2006
INDUSTRY MARKET SNAPSHOT
Book-to-bills of various components/equipment.
AUG. SEPT.
Semiconductor equipment (1) 0.97 0.90
Semiconductors (2) 3.2% 5.2%
Rigid PCBs (3) (North America) 1.01 1.07
Flexible PCBs (3) (North America) 1.62 1.52
OCT NOV. DEC.
Semiconductor equipment (1) 0.95 0.93 0.96
Semiconductors (2) 6.8% 7.2% 6.8%
Rigid PCBs (3) (North America) 1.14 1.12 1.09
Flexible PCBs (3) (North America) 1.10 1.16 0.95
Sources: (1) SEMI, (2) SIA (3-month moving average growth), (3) IPC
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