Fiore, chair of the ISM Manufacturing Business Survey Committee. “All segments of the manufacturing economy are impacted by record-long raw materials and capital equipment lead times, continued shortages of critical lowest-tier materials, high commodity prices and difficulties in transporting products,” said Timothy R. The ongoing growth is a positive, but the industry is also struggling with some of the challenges that the economic recovery has brought. Any reading over 50 indicates expansions - and this was the 18th straight month of expansion for the sector following the pandemic downturn. The ISM’s purchasing managers’ index stood at 61.1 last month, slightly above economists’ expectations and above October’s level of 60.8. “We are following a very right protocol of insisting that everyone who enters the space get vaccinated and recently tested, including staff, vendors and caterers.”īolten added on Omicron, “It’s TBD, with a lot of people pretty concerned.”Īmerica’s manufacturing sector expanded in November, data from the Institute for Supply Management showed this morning. “Pretty much everyone who said they were going to show up, is showing up,” Bolten said. Everyone’s got fingers crossed that it’s not too bad,” Bolten said.ĭespite the Omicron news, Business Roundtable CEOs still plan to convene in Washington on Thursday. “We don’t know, because the experts don’t know. “If it does turn out to be as dramatic a shift as the Delta variant was, that will definitely put a damper on things,” Bolten told reporters during a press conference in Washington.īolten said the trade group’s CEO members are adopting the view that it’s too early to tell what the economic impact will be.
(Sumaya Hisham/Reuters)īusiness Roundtable CEO Joshua Bolten acknowledged on Wednesday the Omicron coronavirus variant has the potential to disrupt the economic recovery but said it’s too early to say for sure. Tambo International Airport in Johannesburg, South Africa, on November 27, 2021. Passengers wait to board flights, amidst the spread of the new SARS-CoV-2 variant, at O.R.
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