Leather tops industrial performance
According to the December 2007 Manufacturing Institute for Supply Management (ISM) Report on Business, the Apparel, Leather & Allied Products topped the list of seven sectors in the USA that posted an improvement, although as a whole economic activity in the manufacturing sector failed to grow following ten consecutive months of expansion. Other industries that also reported growth were Petroleum & Coal Products; Food, Beverage & Tobacco Products; Computer & Electronic Products; Machinery; Primary Metals; and Miscellaneous Manufacturing.
"The manufacturing sector failed to grow in December ending ten consecutive months of growth. The recent trend has been toward slower growth. However, December was apparently a very tough month as new orders, production and employment were all below the break-even mark of 50 per cent. Industries close to the housing market appear to be struggling more than others, and those involved in exports seem to be doing better. Slower demand appears to be more of a problem than excessive inventories based on the respondents' comments," said Norbert Ore, chair of ISM’s Manufacturing Business Survey Committee.
