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BUSINESS
May 4, 2012 | By Jim Puzzanghera, Los Angeles Times
WASHINGTON — Growth in service industries, which make up 90% of the U.S. economy, slowed in April after surging the previous month, according to a leading gauge. The Institute for Supply Management said Thursday that its index of nonmanufacturing businesses fell to 53.5 last month, down from 56 in March. The drop was steeper than economists had been projecting and brought the index to its lowest level since November's 52.6. The April data came after the ISM reported Tuesday that manufacturing jumped in April to a 10-month high.
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BUSINESS
March 7, 2014 | By Jim Puzzanghera, This post has been updated. See the note below for details.
WASHINGTON -- The economy added 175,000 net new jobs last month, a surprisingly robust figure given the bad winter weather, the Labor Department said Friday. Despite the increase -- the largest in three months -- the unemployment rate ticked up 0.1 percentage points to 6.7% after hitting a more than five-year low in January. The February job-creation figure was a significant improvement over the 129,000 net new jobs added in January, which was revised up from an initial estimate of 113,000.
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BUSINESS
March 1, 2010
TODAY → Manufacturing index due from Institute for Supply Management. → Government releases January income and spending data. → Dish Network and H&R Block expected to post quarterly results. TUESDAY → Major carmakers report U.S. sales for February. → Senate hearings on Toyota and on lending to small businesses. → Earnings reports expected from AutoZone and Staples. WEDNESDAY → Institute for Supply Management releases its index of service sector activity.
BUSINESS
March 3, 2014 | By Jim Puzzanghera
WASHINGTON -- Factory growth picked up last month after a January plunge, but still appeared to be hampered by bad weather in much of the country, the Institute for Supply Management said Monday. The group's widely watched purchasing managers index rose to 53.2 in February, up from 51.3 the previous month. A reading above 50 indicates the sector is expanding. The January figure was down sharply from 56.5 in December and marked a seven-month low. The index had averaged 56.2 through the final half of last year as the manufacturing sector strengthened.
BUSINESS
February 3, 2014 | By Ricardo Lopez
U.S. manufacturing slowed in January as new orders and inventories plunged, according to data released Monday by the Institute for Supply Management. The group's purchasing managers index dropped to 51.3 last month, down more than 5 percentage points from a 56.5 reading in December. It's the lowest index reading since May 2013.  Still, a reading above 50 indicates expansion.  "A number of comments from the panel cite adverse weather conditions as a factor negatively impacting their businesses in January," said Bradley Holcomb, chair of the Institute for Supply Management's Manufacturing Business Survey Committee.
BUSINESS
July 1, 2013 | By Jim Puzzanghera
WASHINGTON -- Growth returned to U.S. manufacturing sector in June after a one-month contraction, the Institute for Supply Management said Monday. The group's manufacturing index rose to 50.9 from 49 in May, which was a four-year low. A figure above 50 suggests business in the factory sector is expanding. The index is based on a survey of purchasing managers at manufacturing firms. Analysts had forecast a return to growth. The June figure was slightly above the projection of 50.6.
BUSINESS
April 3, 2013 | By Jim Puzzanghera
WASHINGTON -- The service sector's expansion slowed last month from its fastest pace in a year in February, the Institute for Supply Management said Wednesday. The firm's widely watched purchasing managers index was at 54.4 in March, suggesting a 39th straight month of growth in the service sector. But the figure was down from a 56 reading the previous month. Analysts had expected the index to drop to about 55.5. A figure above 50 indicates the sector is growing. Quiz: How much do you know about California's economy?
BUSINESS
September 5, 2013 | By Jim Puzzanghera
WASHINGTON -- The service sector, a backbone of the U.S. economy, unexpectedly expanded last month at its fastest pace in more than five years, the Institute for Supply Management said Thursday. The group's purchasing manager's index jumped to 58.6 in August, up from 56 the previous month. It was the highest reading since ISM began tracking growth in nonmanufacturing industries in January 2008. Economists had projected the index would drop to 55 last month. A reading above 50 indicates the sector is growing.
BUSINESS
August 1, 2013 | By Jim Puzzanghera
WASHINGTON -- Factories heated up last month as the manufacturing sector expanded at its fastest pace in two years, the Institute for Supply Management said Thursday. The group's purchasing managers index jumped to 55.4 in July from 50.9 the previous month. It was the second-straight month of improvement after the index fell to to 49.9 in May, a four-year low that indicated the crucial economic sector had contracted. A reading above 50 indicates that manufacturing businesses are expanding.
BUSINESS
April 1, 2013 | By Jim Puzzanghera
WASHINGTON -- Growth in the crucial manufacturing sector unexpectedly slowed in March as companies reported fewer new orders and less production compared with the previous month. The Institute for Supply Management's widely watched purchasing managers index dropped to 51.3 last month compared with 54.2 in February. The reading came in below analyst expectations of about 54. A reading above 50 indicates growth in the sector, which covers a wide variety of industries. March was the fourth straight month of growth after a slight contraction in November , ISM said.
BUSINESS
February 3, 2014 | By Ricardo Lopez
U.S. manufacturing slowed in January as new orders and inventories plunged, according to data released Monday by the Institute for Supply Management. The group's purchasing managers index dropped to 51.3 last month, down more than 5 percentage points from a 56.5 reading in December. It's the lowest index reading since May 2013.  Still, a reading above 50 indicates expansion.  "A number of comments from the panel cite adverse weather conditions as a factor negatively impacting their businesses in January," said Bradley Holcomb, chair of the Institute for Supply Management's Manufacturing Business Survey Committee.
BUSINESS
October 27, 2013 | By Ronald D. White
For Wesco Aircraft Holdings Inc. in Valencia, it's all about making the right connections. And those connections with customers are helping keep many of the world's civil, commercial and military aircraft safe in the air. Wesco Aircraft manages supply chains for the aerospace industry and is one of the world's biggest sellers and distributors of aerospace parts and components. Its more than 525,000 parts and components include fasteners, fittings, nuts, bolts, bushings, clamps, collars, pins, screws and washers.
BUSINESS
October 1, 2013 | By Jim Puzzanghera
WASHINGTON -- According to one report, the manufacturing sector expanded in September at its fastest pace since early 2011, an indication that economic growth is picking up in the second half of the year. The Institute for Supply Management's closely watched purchasing managers index increased to 56.2 last month, from 55.7 in August, the group said Tuesday. A reading above 50 indicates that the sector is expanding. The September figure was the best since April 2011. QUIZ: How well do you understand the Fed stimulus?
BUSINESS
September 5, 2013 | By Jim Puzzanghera
WASHINGTON -- The service sector, a backbone of the U.S. economy, unexpectedly expanded last month at its fastest pace in more than five years, the Institute for Supply Management said Thursday. The group's purchasing manager's index jumped to 58.6 in August, up from 56 the previous month. It was the highest reading since ISM began tracking growth in nonmanufacturing industries in January 2008. Economists had projected the index would drop to 55 last month. A reading above 50 indicates the sector is growing.
BUSINESS
July 1, 2013 | By Jim Puzzanghera
WASHINGTON -- Growth returned to U.S. manufacturing sector in June after a one-month contraction, the Institute for Supply Management said Monday. The group's manufacturing index rose to 50.9 from 49 in May, which was a four-year low. A figure above 50 suggests business in the factory sector is expanding. The index is based on a survey of purchasing managers at manufacturing firms. Analysts had forecast a return to growth. The June figure was slightly above the projection of 50.6.
BUSINESS
April 3, 2013 | By Jim Puzzanghera
WASHINGTON -- The service sector's expansion slowed last month from its fastest pace in a year in February, the Institute for Supply Management said Wednesday. The firm's widely watched purchasing managers index was at 54.4 in March, suggesting a 39th straight month of growth in the service sector. But the figure was down from a 56 reading the previous month. Analysts had expected the index to drop to about 55.5. A figure above 50 indicates the sector is growing. Quiz: How much do you know about California's economy?
BUSINESS
April 3, 2013 | By Jim Puzzanghera, Los Angeles Times
WASHINGTON - Private-sector employment growth and expansion in the vital service sector slowed last month, raising concerns about the strength of the recovery ahead of Friday's government jobs report. Payroll firm Automatic Data Processing Inc. said Wednesday that the private sector added 158,000 jobs in March. The figure was well below the 237,000 private-sector jobs added in February, a number that was revised up from the initial report of 198,000. Economists had expected that ADP would show about 200,000 private-sector jobs were added last month.
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