ISM Manufacturing Index for October 2014

Earlier today, the Institute for Supply Management (ISM) released their Purchasing Manager's Index (PMI) for October 2014:

Predicted: 56.0%
Actual: 59.0%

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 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 specified, while a reading below 50% implies that the factory sector contracted.

Last month, the PMI was 56.6%.

The following is a sampling of quotes from a diverse pool of U.S. manufacturers:

"...'Holiday orders are exceeding seasonal forecasts. Customers are demanding additional quantities above prior orders. Fuel costs and other positive signals appear to be creating demand above normal.'
(Food, Beverage and Tobacco Products)

    'Weakness in commodity prices very positive on our business.'
(Fabricated Metal Products)

    'We continue to see strong demand across multiple sectors.'
(Transportation Equipment)

    'Another strong month in terms of business growth.'
(Computer and Electronic Products)

    'Demand in the United States is consistent and geopolitics remain a concern.'
(Chemical Products)

    'Production is oversupplying demand, and prices have softened.'
(Wood Products)

    'Business steady and strong.'
(Furniture and Related Products)

    'Outer body material changes in the auto industry means new equipment and manufacturing growth...'
(Machinery)"

Click here to view the complete ISM report.

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