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Economic Data (USA)

Monday, October 03, 2016

ISM Manufacturing Index for September 2016

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

Predicted: 50.2%
Actual: 51.5%

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 49.4%.

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

  •     "Domestic and international sales moving up slightly."
    (Chemical Products)
  •     "Negotiating prices down on all metals."
    (Computer and Electronic Products)
  •     "Business is still strong, but we are seeing some pushouts from certain consumer market products."
    (Primary Metals)
  •     "Sales on the increase and positive outlook for the remainder of 2016."
    (Fabricated Metal Products)
  •     "Good growing conditions for this year’s corn and soybean crop has the protein market anticipating large supplies and lower cost of goods for 2017."
    (Food, Beverage and Tobacco Products)
  •     "General business conditions are slowly improving with increased sales and sales leads."
  •     "Furniture sales are increasing."
    (Furniture and Related Products)
  •     "Some concern about fallout from the Hanjin Shipping bankruptcy. Spending time tracking containers — alternatives. Also, predicated on the impact to worldwide rates, there is some concern around both capacity and ocean rates in the near — to midterm future."
    (Transportation Equipment)
  •     "Demand increase after previous lackluster month. Some pre-buying activity underway by customers in advance of expected price increases."
    (Plastics and Rubber Products)
  •     "Oil prices have increased with respect to the first quarter but they remain at low levels affecting our revenue and purchasing power."
    (Petroleum and Coal Products)

Click here to view the complete ISM report

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