We knew there was anecdotal evidence based on the writer's experience, most recently in conversations with Parker Hannifin execs. Now we see the numbers. We also take note of this:
Commodities up in price: Aluminum (5); Aluminum Products; Brass (2); Brass Products; Caustic Soda (6); Chemicals (4); Copper (6); Copper Based Products (3); Corn (5); Corrugated Containers (11); Diesel (2); Freight Rates; Fuel Oils; High Density Polyethylene (2); Lubricants; Nuts; Packaging Materials; PET (2); Plastics; Plastic Products; Plastic Resins (3); Polyethylene Resin; Polypropylene; Soybean Oil (3); Stainless Steel (3); Stainless Steel Products; Steel (5); Steel Products (2); Steel Surcharges; and Sugar.
Commodities down in price: Ha ha ha...
We also note that with the pretense of relatively low inflation, US policy makers can pretty much keep gunning this thing at will. Meanwhile, consider all the pressure mounting beneath the surface; beneath the appearance of things. At some point, inflationary policy becomes inflationary EFFECTS and that's when the people get really angry.
| MANUFACTURING AT A GLANCE JANUARY 2011 | ||||||
|---|---|---|---|---|---|---|
Index | Series Index January | Series Index December | Percentage Point Change | Direction | Rate of Change | Trend* (Months) |
| PMI | 60.8 | 58.5 | +2.3 | Growing | Faster | 18 |
| New Orders | 67.8 | 62.0 | +5.8 | Growing | Faster | 19 |
| Production | 63.5 | 63.0 | +0.5 | Growing | Faster | 20 |
| Employment | 61.7 | 58.9 | +2.8 | Growing | Faster | 16 |
| Supplier Deliveries | 58.6 | 56.7 | +1.9 | Slowing | Faster | 20 |
| Inventories | 52.4 | 51.8 | +0.6 | Growing | Faster | 7 |
| Customers' Inventories | 45.5 | 40.0 | +5.5 | Too Low | Slower | 22 |
| Prices | 81.5 | 72.5 | +9.0 | Increasing | Faster | 19 |
| Backlog of Orders | 58.0 | 47.0 | +11.0 | Growing | From Contracting | 1 |
| Exports | 62.0 | 54.5 | +7.5 | Growing | Faster | 19 |
| Imports | 55.0 | 50.5 | +4.5 | Growing | Faster | 17 |
| OVERALL ECONOMY | Growing | Faster | 20 | |||
| Manufacturing Sector | Growing | Faster | 18 | |||
