Manufacturers still very positive

Producer confidence in manufacturing industry was 8.4 in June. The index is 0.5 point down on May but manufacturers are still very positive. Since the summer of 2006, the mood indicator among manufacturers has remained consistently high.

Producer confidence is composed of three component indicators: anticipated output over the next three months, producers’ opinions about the stock of finished products and their opinions about the order position. Manufacturers were optimistic about future production, but marginally less than in May. The order position indicator remained virtually unchanged in June. The stock of finished products indicator improved marginally.

Producers who indicate that the number of orders received has increased outnumbered those who think order receipts have declined. Orders received on the domestic market substantially increased. The order position index (orders received expressed in months of work) remained almost the same at 112.5. Manufacturers also remained optimistic with respect to employment.

Producer confidence in manufacturing industry