ISM Manufacturing Index for October 2016

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

Predicted: 51.6%
Actual: 51.9%

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 51.5%.

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

•     "Domestic business steady. Export business trending higher."
  (Chemical Products)

•     "Very favorable outlook in the market."
  (Computer and Electronic Products)

•     "We are looking at a considerable slowdown for October and November. Production is down 20 percent."
  (Primary Metals)

•     "Business is much better."
  (Fabricated Metal Products)

•     "Strong economy driving steady sales."
  (Food, Beverage and Tobacco Products)

•     "Due to the hurricane and other storms, our business is up significantly."
  (Machinery)

•     "Ongoing strength seen in 2016 — it’s a good year."
  (Miscellaneous Manufacturing)

•     "Customers continue to press price reductions."
  (Transportation Equipment)

•     "Our business remains strong."
  (Plastics and Rubber Products)

•     "Hard to predict oil price dynamics, but there seems to be a consensus that the market is stabilizing, at least above USD 50 bbl this month."
  (Petroleum and Coal Products)

Click here to view the complete ISM report

--> www.FedPrimeRate.com Privacy Policy <-- >  SITEMAP  <