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Economic Data (USA)

Monday, November 02, 2015

ISM Manufacturing Index for October 2015

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

Predicted: 50.0%
Actual: 50.1%

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 50.2%.

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

"...'Sales demand becoming more consistent. Beginning to see slightly more capital spending by key customers. Outlook more positive than negative.'
(Electrical Equipment, Appliances and Components)

    'So far bird flu has not been reintroduced as bird migration begins.'
(Food, Beverage and Tobacco Products)

    'Business is improving. We still need young machinists to replace those retiring.'
(Fabricated Metal Products)

    'Business is picking-up in general.'
(Transportation Equipment)

    'Energy market continues to struggle. Effects are beginning to bleed into other areas.'
(Computer and Electronic Products)

    'Currency exchange is having a large impact on business results.'
(Chemical Products)

    'Wood products market is sluggish with prices varying up/down depending on size and grade.'
(Wood Products)

    'Some level of slowing, but activity is acceptable.'

Click here to view the complete ISM report.

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