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the average PMI for January and Febru- ary (48.9 percent) corresponds to a 1.8 percent increase in real gross domestic product (GDP) on an annualized basis. In addition, if the PMI for February (49.5 percent) is annualized, it corre- sponds to a 2 percent increase in real GDP annually. US primary aluminum production rate surveyed ARLINGTON, Va.—Based on Alu- minum Association surveys, the annual rate of US primary aluminum produc- tion totaled 1,213,492 metric tons (tonnes) during February 2016, a drop of 28.2 percent from the February 2015 annual rate of 1,689,768 tonnes. Com- pared to the previous month, the an- nual rate of production decreased 3.4 percent from the January 2016 annual rate of 1,255,628 tonnes. The year-to- date (YTD) annual rate of production t h r o u g h F e b r u a r y 2 0 1 6 t o t a l e d 1,235,262 tonnes, off 26.5 percent from the 2015 YTD rate of 1,680,825 tonnes. Actual production for the month of February 2016 totaled 96,151 tonnes. Participating compa- nies account for 100 percent of US pri- mary aluminum production. Global industrial coatings market thoroughly analyzed DUBLIN, Ireland—Industrial coat- ings are used for multiple functions such as resisting corrosion, providing weather protection, enhancing perfor- mance, and providing a decorative fin- ish. They provide the best anti-rust and corrosion protection to any surface. This is according to Industrial Coatings Market By Coating Resin; By Type; By Formulation; By End-user Application; By Geography – Forecast (2015-2020), a report from Research and Markets, an industrial market research firm. This comprehensive market report features the key drivers, challenges, and oppor- tunities facing the industrial coatings market in the coming years on both a global and regional level. The key user segments include automotive, marine, steel, decorative coating, and others. The competitive landscape for industry and market players are profiled in the report, including company overviews, financial overviews, business strategies, product portfolios, and recent develop- ments. Preliminary steel imports increase in January WASHINGTON, D.C.—The Amer- ican Iron and Steel Institute (AISI) has reported that for the month of January 2016, the US imported a total of 2,577,000 net tons (NT) of steel, in- cluding 2,217,000 NT of finished steel. Respectively, these totals are an increase of 10.0 percent and 8.8 percent versus December final data. Year-to-date (YTD) total and finished steel imports are 2,577,000 and 2,217,000 NT, down 41 percent and 38 percent respec- tively versus the same period in 2015. Finished steel import market share was an estimated 26 percent in January. AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. For more news about steel and its applications, visit www.steel.org. US manufacturing technology orders drop in January MCLEAN, Va.—January US manu- facturing technology order values were down 30 percent from December 2015. Year-over-year orders also de- clined 21 percent. This is according to the Association for Manufacturing Technology (AMT) as reported by companies participating in the United States Manufacturing Technology Or- ders (USMTO) program. The automo- bile, aerospace and medical sectors are currently driving orders, while the off- road construction, oil and gas, and agri- culture sectors continue to struggle. As a result, the Southeast region is particu- larly strong when compared to other re- gions of the country, due to the signifi- cant presence of auto, aerospace, and medical companies in this region. "The drop in orders was not unex- pected," said Douglas K. Woods, AMT president. "January numbers are typi- cally lower than December as companies that have financial years synced with the calendar year place delayed orders based on where they are relative to budget goals. This cycle will be less dramatic in 2017. The temporary tax incentives which have spurred year-end buying de- cisions for more than a decade are now permanent or extended for several years." 38 POWDER COATING, April 2016 Manufacturing sector's economic activity contracts for fifth month TEMPE, Ariz.—Economic activity in the manufacturing sector contracted in February for the fifth consecutive month, while the overall economy grew for the 81st consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Busi- ness. The report is based on data com- piled from purchasing and supply exec- utives nationwide. The February PMI registered 49.5 per- cent, an increase of 1.3 percentage points from the January reading of 48.2 percent. The New Orders Index regis- tered 51.5 percent, the same reading as in January. The Production Index reg- istered 52.8 percent, 2.6 percentage points higher than the January reading of 50.2 percent. The Employment Index registered 48.5 percent, 2.6 per- centage points above the January read- ing of 45.9 percent. Inventories of raw materials registered 45 percent, an in- crease of 1.5 percentage points above the January reading of 43.5 percent. The Prices Index registered 38.5 per- cent, an increase of 5 percentage points above the January reading of 33.5 per- cent, indicating lower raw materials prices for the 16th consecutive month. Comments from the panel indicate a more positive view of demand than in January, as 12 of 18 industries report an increase in new orders, while four in- dustries report a decrease in new orders. Manufacturing contracted in February as the PMI registered 49.5 percent, an increase of 1.3 percentage points from the January reading of 48.2 percent, in- dicating contraction in manufacturing for the fifth consecutive month. A read- ing above 50 percent indicates that the manufacturing economy is generally ex- panding; below 50 percent indicates that it is generally contracting. A PMI above 43.2 percent, over a period of time, generally indicates an expansion of the overall economy. The past relationship between the PMI and the overall economy indicates that UPDATE: Markets