Prior was 46.5Prices Paid 50.3 vs 54.8 priorNew Orders 50.4 vs 47.1 prior — returned to expansionProduction 46.8 vs 46.2 priorEmployment 48.1 vs 44.4 priorSupplier Deliveries 48.7 vs 52.0 prior Inventories 48.1 vs 42.6 priorBacklog of Orders 41.8 vs 42.3 priorNew Export Orders 48.7 vs 45.5 priorImports 47.6 vs 48.3 priorCustomers’ Inventories 48.4 vs 46.8 prior
The US dollar has ticked up to the best levels of the day in the aftermath of the report.
Comments in the report:
“High mortgage rates continue to hamper demand for new housing
construction, which is a key market for adhesives and sealants.”
[Chemical Products]“Business remains slow. We anticipate that the first half of 2025
will be similar and hope that demand increases in the second half of
2025.” [Transportation Equipment]“Inflation, even after easing, continues to impact demand. Consumers
are looking for value, and purchasing behaviors are changing as many
shoppers reduce consumption, causing softer volume.” [Food, Beverage
& Tobacco Products]“Backlog is rising precipitously after 18 months of troughing. The
long-awaited pent-up buying has started. Competition for qualified
technical labor is a constraint on operational throughput.” [Computer
& Electronic Products]“A general construction slowdown in the fourth quarter has created a
surplus of finished goods, creating the need for an extra two weeks of
shutdown over the Christmas holiday period. We are carefully watching
demand in the first quarter to determine if more permanent workforce
reductions will be necessary.” [Machinery]“Business is slowing as customers destock and appear uncertain about
near-term demand. Preliminary forecast for 2025 is down significantly;
we hope to see improvements now that we are beyond U.S. election
uncertainties.” [Fabricated Metal Products]“Our supplier has a positive outlook on the U.S. economy going into
2025. Our business is seeing an uptick in sales forecasts for the first
quarter of 2025 versus the fourth quarter of 2024. Overall, our outlook
for 2025 is optimistic.” [Textile Mills]“We’re finally seeing traction in the last few weeks (with) a higher
volume of orders. Backlog is starting to grow.” [Electrical Equipment,
Appliances & Components]“Late to the game, we are now working on our buying plan in light of
potential increased tariffs on imports from China. Cost and capacity of
U.S. manufacturing is a concern; a lack of relationship with alternate
low-cost international manufacturers is another.” [Miscellaneous
Manufacturing]“After the election, we have seen an uptick in customers wanting to
come back to the U.S. for making their products. We are working through
these inquiries. They seem very motivated.” [Primary Metals]
This article was written by Adam Button at www.forexlive.com.
