Wed 2 Jul 2008
Midwest Business Nearing Stability
Posted by Megan Dorn under Small Business
Some interesting statistics regarding Midwestern business came out from the National Association of Purchasing Management. The New York Times published an article from Reuters yesterday morning citing the report and giving a run-down of several different findings.
The most relevant finding is that Midwestern business activity, though still slightly less than stable, is showing signs of rising toward stability. The NAPM barometer rose to its strongest reading since January— 49.6. A reading of 50 indicates equilibrium between growth and contraction.
“It looks as if manufacturing in the Midwest is holding its own,” said Gary Thayer, senior economist at Wachovia Securities in St. Louis.
The employment section of the report also showed some promising statistics. The index rose to 46.7, from 41.2 in May, also the strongest reading since January.
I know that statistics are just statistics, and they don’t mean much to suffering small business owners. But I hope they can elicit a little optimism and give us all something to look forward to.
July 2nd, 2008 at 10:32 am
I was mildly pleased that some jobs aren’t going to China but are staying in Ohio and Kentucky because of the high cost of fuel has made it more practical to make here. (Saw on ABC News, though couldn’t find in a cursosy glance.)