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Economic Data (USA)

Friday, December 02, 2016

ISM Manufacturing Index for November 2016

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

Predicted: 52.3%
Actual: 53.2%

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 month's PMI reading was 51.9%.

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

  •     "Raw materials have been rather flat. Ramping up for year-end and reducing inventory is main supply chain goal at this time."
    (Chemical Products)
  •     "Strong manufacturing numbers in anticipation of strong year-end bookings."
    (Computer and Electronic Products)
  •     "Business is still steady. We are foregoing our shutdown over Christmas break due to an increase in customer orders."
    and Rubber Products)
  •   "Heading into 2017, our business levels look pretty consistent compared to 2016."
    (Primary Metals)
  •    "Sector remains strong, orders and forecasts are consistent and demand outlook is positive."
    (Food, Beverage
    and Tobacco Products)
  •     "New spec buildings going up in our area. Local companies adding additional production space which equates to higher employment."
  •     "Business conditions are good. Labor market is tightening such that it is difficult to staff to completely fulfill production demand."
    (Miscellaneous Manufacturing)
  •     "We are seeing an upswing in customer Requests for Quotations this month; this is a positive sign for our business."
    (Textile Mills)
  •     "Continued strong seasonal demand for product."
    (Nonmetallic Mineral Products)
  •     "2017 is looking to be a very busy year."
    (Fabricated Metal Products)
Click here to view the complete ISM report

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