ISM Manufacturing Index for January 2017

Earlier today, the Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for January 2017:

Predicted: 55%
Actual: 56%

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 54.5% (revised.)

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

•     “Demand very steady to start the year.”
  (Chemical Products)

•     “January revenue target slightly lower following a big December shipment month.”
  (Computer and Electronic Products)

•     “Strong start to the new year. Production is increasing and we are adding capacity.”
  (Plastics and Rubber Products)

•     “Business looks stronger moving into the first quarter of 2017.”
  (Primary Metals)

•     “Economic outlook remains stable and no current effects of geopolitical changes appear to be penetrating market conditions.”
  (Food, Beverage and Tobacco Products)

•     “Sales bookings are exceeding expectations. We are starting to see supply shortages in hot rolled steel due to the curtailment of imports.”
  (Machinery)

•     “Year starting on pace with Q4 2016.”
  (Transportation Equipment)

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

•     “Conditions and outlook remain positive. Raw material prices are stable resulting in stable margins. Asset utilization remains high.”
  (Petroleum and Coal Products)

•     “Steady demand from automotive.”
  (Fabricated Metal Products)
  

Click here to view the complete ISM report

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