The road to recovery in the manufacturing sector will likely be slow, arduous, and painstaking, but there is some evidence that the worst has passed, according to the quarterly Manufacturers Alliance/MAPI Survey on the Business Outlook- June 2009. The June 2009 composite index rose to 24 from an historic low of 21 reported in the March 2009 report.

At 24%, the index indicates that overall manufacturing activity is expected to contract over the next three to six months. While the index is at its second lowest level since the survey originated in March 1972, it marks the first time it has shown improvement since June 2007. The survey was conducted on a semi-annual basis from 1972 to 1991 before being conducted on a quarterly basis in 1991. It should be noted, however, that the …