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Economic Data (USA)

Tuesday, January 03, 2017

ISM Manufacturing Index for December 2016

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

Predicted: 53.8%
Actual: 54.7%

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 53.2%.

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

  •     “Ramping up for year-end by reducing inventory.”
     (Chemical Products)

  •     “Very strong month in terms of booking and billing which will contribute to a good overall year revenue-wise.”
     (Computer and Electronic Products)

  •     “Our business remains strong and we are seeing continued growth.”
    and Rubber Products)

  •     “We have been fairly steady the last few months and it appears business is strong into the 1st quarter of next year.”
     (Primary Metals)

  •     “Moving into [a] more inflationary environment, with lots of pressure to increase prices on a number of fronts.”
     (Food, Beverage
    and Tobacco Products)

  •     “Business continues to be brisk with an uptick of RFQs. Customers are earmarking funds for capital equipment upgrades.”

  •     “Hiring still tight on available local labor. Business, by segments, still uneven. Some consumer markets very (seasonally) strong, but industrial markets lagging.”
     (Transportation Equipment)

  •     “Business conditions are good, demand is growing.”
     (Miscellaneous Manufacturing)

  •     “Continued strong demand for product and strong forecast for next year.”
     (Nonmetallic Mineral Products)

  •     “December 2016 is way ahead of December 2015.”
     (Fabricated Metal Products)
Click here to view the complete ISM report

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