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Economic Data (USA)

Monday, April 03, 2017

ISM Manufacturing Index for March 2017

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

Predicted: 57.1%
Actual: 57.2%

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 57.7%.

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

  •      "Business conditions continue to improve."
     (Chemical Products)

  •     "Business outlook is positive."
     (Computer and Electronic Products)

  •     "Regional business is strong. Hiring qualified team members has improved."
     (Fabricated Metal Products)

  •     "We had a lot of storm orders, so it really pushed our sales up this month."
     (Miscellaneous Manufacturing)

  •     "Starting to see some prices creeping up. We are raising our sales prices as well."
     (Food, Beverage and Tobacco Products)

  •     "Business up 10-15 percent."

  •     "Industry outlook is looking relatively flat currently, and the view for calendar year 2017 looks to be flat as well. Job market has been very good in the region, and finding talent has been challenging."
     (Transportation Equipment)

  •    "Business is strong and looking up."
     (Furniture and Related Products)

  •     "Opportunities for new business seem more abundant now. Orders and RFQs increasing."
     (Nonmetallic Mineral Products)

Click here to view the complete ISM report

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