Survey: Manufacturing Growth Continues at a Minimal Rate

U.S. manufacturing continues to grow, but at a nominal pace as the sector continues to confront challenges, indicating little change from the previous report, according to a Manufacturers Alliance for Productivity and Innovation survey released today.

The December 2012 composite index fell to 55 from 56 in the September 2012 survey, which is the 10th consecutive quarterly decline and the largest drop within that period. Despite the fall, the index remains above 50, the dividing line between contraction and expansion.

“The rapid slowdown in the growth of manufacturing production that began in March 2012 appears to have bottomed out and the outlook is for slow expansion over the next three to six months,” said Donald A. Norman, MAPI senior economist and survey coordinator, in a written statement.