Tuesday, February 9, 2010

Purchasing's business conditions index at 35-month high

From Purchasing Magazine:

Purchasing magazine's business conditions index jumped to 61.4 this month from 51.2 in January, marking the sixth month of the past seven in which the index was above the 50.0 market that signals growth

The Purchasing index is above the 58.4 manufacturing index reading reported in January by the Institute of Supply Management (ISM) and the highest since the 62.8 reading in April 2007. "Business is still down considerably from 2007-2008 levels," says the purchasing director of a heavy equipment manufacturing firm in Illinois. "However, many customers are still making inquiries about potential equipment purchases in 2010."