The January results for US Manufacturing were off pace a bit from what they have been over the last couple of years, but the February numbers showed that things have bounced back again in spite of the bad weather. The bad weather we have had has definitely made for a fun first quarter, but the numbers showed that new orders were up again in February, and that overall consumer spending rose more than had been projected in January. A shortage of parts in certain sectors restricted an even greater pickup in production. All of this points to continued improvement in orders in coming months in order to replenish depleted stockpiles. The weather also impacted unemployment numbers. The official unemployment rate rose by 0.1% to 6.7%. All of this should continue to improve as we get into the warmer months of the year.
Bruce Peacock
Vice President of Business Development
The Richmond Group USA