Factory Orders are up by 0.7% in April to $344.4 billion, were expected to increase by 0.8%, and are up 2 of the past 3 months, after falling by 1.9% in March and increasing by 0.7% in February. Excluding transportation, new factory orders also increased by 0.1%. Over the past 12 months, the volume of new orders had fallen by 23.1%.

The ISM Services Index for May increased to 44 from April's level of 43.7, although less than the expected level of 45. The index is estimated below 50 for the 8th consecutive month, meaning that it is still indicating contraction, but this contraction comes at a diminished rate indicated by the value rising.  6 of the industries in the index reported growth for the month: Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Utilities; Retail Trade; Construction; and Accommodation & Food Services. The remaining

The ISM Manufacturing Index for April stands at 40.1%,  more than the 38.6 expected, increasing over the month from 36.9 reported in March.  Although below 50 for the 15th consecutive month, showing the manufacturing industry failed to grow, the increase in the value of the index can serve as an indication that the rate of decline is diminishing with prospects of an anticipated recovery.  The overall economy, failed to grow for the 7th consecutive month.  Miscellaneous Manufacturing showed growth, while the remaining 15 industries constituting the manufacturing sector reported contraction: Printing & Related Support Activities; Primary Metals; Apparel, Leather & Allied Products; Textile Mills; Chemical Products; Furniture & Related Products; Petroleum & Coal Products; Fabricated Metal Products; Transportation Equipment; Food, Beverage & Tobacco Products; Plastics & Rubber Products; Electrical Equipment, Appliances & Components; Paper Products; Machinery; Computer & Electronic Products; and Nonmetallic Mineral Products. 

Factory

You know when your sales for 2007 are $2.2 billion that you’re doing something right. That’s the case for Cleveland, Ohio based Ferro Corporation who garnered those kinds of numbers last year. Trading on the New York Stock Exchange (NYSE), Ferro is a worldwide supplier of technology-based performance materials for manufacturers. They are part of the Specialty Chemical industry and manufacture and sell their products in over 100 countries through the efforts of approximately 6,300 employees.

Ferro’s materials enhance the performance of products in diverse end-market applications. These are electronics, solar energy, telecommunications, pharmaceuticals, building and renovation, appliances, automotive, household furnishings, and industrial products, among others. The company operates a variety of businesses.

Their Electronic Material Systems segment develops, manufactures, and markets high-purity powders, pastes, and tapes for many electronic applications. Their Color & Glass Performance Materials business supplies glass colors and coatings for automotive, flat, and container glass in the global