Manufacturing industry activity in southeastern Wisconsin improved during December, according to the latest Marquette-ISM Report on Manufacturing.
The Milwaukee-area PMI for the month was 65.57, up from 59.62 in November and 63.61 in October.
Any reading above 50 indicates growth in the manufacturing sector. The index has not dipped below 55 this year and has not shown a contraction since October 2016.
The December PMI of 65.57 was the highest level for the local index since late 2014.
“December’s Index firmly indicates positive territory,” the report stated.
One survey respondent said, “Customer demand continues to increase, exceeding forecasts. Supply base investments coming online cannot keep up and now facing delayed delivery of specific types of equipment from manufacturers to our suppliers.”
Labor shortages continue to be a concern for manufacturers, according to respondents to the survey.
“The greatest supply chain issue that we are facing is the labor shortage. It is the same for most of our customers,” one survey respondent said. “This is THE constraint in the manufacturing chain. Everyone could be increasing volume but cannot find enough people to run.”
Read more economic data reports at the BizTracker page