A report by the Institute of Supply Management concludes that United States manufacturing made a definitive swing back into growth during the last two months of 2009.
The organization, which represents a trade group of supply executives, reports that its manufacturing index rose to 55.9 in December, up from 53.6 in November. An index score of 50 indicates neither growth or decline.
The score represents the fastest pace for the index since April 2006 when the index scored 56. Eighteen industries reported to the index, of which nine reported growth. Of the ones which slipped, however, included wood products and printing. The printing industry in the U.S. did experience employment growth in December.
A report by JP Morgan’s Global Manufacturing indicates that global manufacturing ended 2009 at a 44-month high, with employment also rising for the first time since March 2008.
Countering the news for manufacturing in Canada is the strength of the Canadian Dollar, which rose to a 4-month high of 96.41 cents on Monday, January 5, due to the rise of oil prices and a weakening U.S. dollar. Overall, the Canadian dollar rose 15.8 percent against the U.S. dollar in 2009.