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Economy

Economic Data (USA)

Friday, April 01, 2016

ISM Manufacturing Index for March 2016

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

Predicted: 50.5%
Actual: 51.8%

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 49.5%.

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

  •     "Unemployment rate is low in our county, making it hard to find workers. We are understaffed and running lots of overtime."
    (Plastics & Rubber Products)

  •     "Business in telecom is booming. Fiber plant is at capacity."
    (Chemical Products)

  •     "Current trends remain steady. No issues with delivery or costs."
    (Computer & Electronic Products)

  •     "Capital equipment sales are steady."
    (Fabricated Metal Products)

  •    "Requests for proposals for new equipment [are] very strong."
    (Machinery)

  •    "Government is spending again. Have received delivery orders."
    (Transportation Equipment)

  •     "Things are starting to pick up. Our business is seasonal and it is that time of year."
    (Printing & Related Support Activities)

  •     "Business conditions are stable, little change from last month."
    (Miscellaneous Manufacturing)

  •    "Incoming sales are improving."
    (Furniture & Related Products)

  •     "Our business is still going strong."
    (Primary Metals)

Click here to view the complete ISM report.

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