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Economic Data (USA)

Wednesday, March 01, 2017

ISM Manufacturing Index for February 2017

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

Predicted: 56.4%
Actual: 57.7%

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 56%.

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

  •      “Business [is] improving and lead times are extending by two or more weeks.”
     (Chemical Products)

  •     “Very positive outlook for this quarter. Production goals have been adjusted multiple times and increased each time due to demand.”
     (Computer and Electronic Products)

  •     “Product demand continues to be solid.”
     (Plastics and Rubber Products)

  •     “Bookings are heavy early in the season. Expect robust first half of the year.”
     (Primary Metals)

  •     “Demand still outstrips capacity. Competitors have announced heavy capital investments to increase capacity.”
     (Food, Beverage and Tobacco Products)

  •     “Sales and business continue to be strong and increasing.”

  •     “Business holding steady in Q1.”
     (Transportation Equipment)

  •     “Medical device manufacturing is still strong.”
     (Miscellaneous Manufacturing)

  •     “Even though oil and gas prices are on the upswing, we still face a tough 2017 and will continue to save on costs.”  (Petroleum and Coal Products)

  •     “Major focus on commodities and potential [for] further inflation.”
     (Electrical Equipment, Appliances and Components)

Click here to view the complete ISM report

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