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Economic Data (USA)

Monday, May 02, 2016

ISM Manufacturing Index for April 2016

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

Predicted: 51.5%
Actual: 50.8%

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 51.8%.

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

  •     'We are still running at capacity. New CapEx for $30 million to increase capacity, but will not be online until 2017.'
    (Food, Beverage and Tobacco Products)
  •     'Remaining a bit sluggish overall although showing signs of a pickup in some areas.'
    (Chemical Products)
  •     'While oil prices have recovered slightly, the industry as a whole continues to struggle greatly.'
    (Computer & Electronic Products)
  •     'Steel prices are increasing, but it is supply-side driven. General economy is plugging along with no big changes. Kind of lackluster.'
    (Fabricated Metal Products)
  •     'Auto industry is still going strong.'
  •     'Sales are firming at the reduced levels we’ve seen this year. We think we have hit a bottom.'
    (Transportation Equipment)
  •     'Business conditions are stable. Sales and production rates are steady to improving.'
    (Miscellaneous Manufacturing)
  •     'Activity increasing as we move to our busy season.'
    (Printing and Related Support Activities)
  •     'Market is starting to pick up as expected.'
    (Wood Products)

Click here to view the complete ISM report.

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