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Economic Data (USA)

Tuesday, March 01, 2016

ISM Manufacturing Index for February 2016

Earlier today, the Institute for Supply Management (ISM) released their Purchasing Manager's Index (PMI) for February 2016:

Predicted: 48.5%
Actual: 49.5%

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 made-in-the-USA sector contracted.

The previous PMI reading was 48.2%.

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

  • "Low oil prices and reduced activity continue affecting our business."
    (Petroleum and Coal Products)

  • "U.S. business demand is solid; international demand is soft."
    (Chemical Products)

  • "Mobility spend is up."
    (Computer and Electronic Products)

  • "Business has to get better. And it appears it is. Healthy backlog for 2016."
    (Fabricated Metal Products)

  • "Very strong demand for product. Material availability very good and commodity pricing continues to be depressed."

  • "Airlines are still ordering planes and spare parts for plane galleys."
    (Transportation Equipment)

  • "Market is beginning to trend up with spring season on its way."
    (Wood Products)

  • "Not seeing impact from global economic volatility or oil prices. Business is strong and growth projections remain the same."
    (Miscellaneous Manufacturing)

  • "Orders are coming in stronger than expected."
    (Furniture and Related Products)

  • "Still a bit sluggish."
    (Food, Beverage and Tobacco Products)

Click here to view the complete ISM report.

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