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Economic Data (USA)

Thursday, October 01, 2015

ISM Manufacturing Index for September 2015

Earlier today, the Institute for Supply Management (ISM) released their Purchasing Manager's Index (PMI) for September 2015:

Predicted: 50.5%
Actual: 50.2%

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 51.1%.

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

"...'Revenues and profits in our industry continue to [be] impacted by low crude and gas prices.'
(Petroleum and Coal Products)

    'Concern for AI [Avian Influenza] for poultry when bird migration begins.'
(Food, Beverage and Tobacco Products)

    'Continue to feel impact of oil and gas market slowdown. Aerospace demand has also been slower than expected. Consumer Electronics not robust.'
(Primary Metals)

    'Concerns about China downturn and its effect on our consumer confidence.'
(Fabricated Metal Products)

    'Overall business is slowing. Consumers are nervous. Not sure what is coming next.'
(Transportation Equipment)

    'High value of dollar is affecting global procurement pricing.'
(Computer and Electronic Products)

    'North American business steady. International business trending bearish.'
(Chemical Products)

    'Business is picking up.'
(Furniture and Related Products)

    'The orders from customers seem to be slowing a bit from the first part of the year. We have promises but not actual Purchase Order numbers'
(Nonmetallic Mineral Products)..."

Click here to view the complete ISM report.

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