ISM Manufacturing Index for October 2008
Earlier today, the Institute for Supply Management (ISM) released their Purchasing Manager's Index (PMI) for October 2008:
Predicted: 41.5%
Actual: 38.9%
Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country that are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for 12% of U.S. Gross Domestic Product (GDP).
The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month in question; when it's below 50%, it implies that the manufacturing sector contracted.
The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.
Last month, the PMI was 43.5%
Click here to view the complete ISM report.
Predicted: 41.5%
Actual: 38.9%
Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country that are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for 12% of U.S. Gross Domestic Product (GDP).
The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month in question; when it's below 50%, it implies that the manufacturing sector contracted.
The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.
Last month, the PMI was 43.5%
Click here to view the complete ISM report.
Labels: ism, manufacturing, pmi, purchasing_managers_index
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posted by Steve Brown | 11/03/2008 11:10:00 AM
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