March 2013 Economic Indicators
Melanie Garza - Director of Operations
March 2013 – It’s warming up… perhaps it’s the stock market record close this month or the fact that the Manufacturing ISM index from February came in at 54.2. Over the last 12 months, the index has averaged over 50% every month meaning new orders, production, employment, supplier deliveries and inventories are all growing. Corporations, which have been sitting on profits while delaying capital projects, hiring and investments in new equipment, are beginning to loosen their grip on cash.
A key leading indicator, reflecting consumer sentiments, is building permits issued for private housing. Building permits are at their highest level (900,000), since 2008.
Although the implications of the fiscal cliff remain unknown, we are happy to report we are starting to see and hear of investments increasing. Our clients are hiring people, backlogs are building and we are continuing to see the quality of opportunities improve.