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Economic Data (USA)

Monday, May 01, 2017

ISM Manufacturing Index for April 2017

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

Predicted: 56.5%
Actual: 54.8%

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 57.2%.

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

  •      "For [the] first time in a long time, revenue was up in Q1 year-over-year. Our customers' businesses are starting to show sustained health."
     (Apparel, Leather and Allied Products)

  •     "Seeing increased orders and new projects."
     (Chemical Products)

  •     "Bookings are slow; however, we did receive a very large government order."
     (Computer and Electronic Products)

  •     "Business is definitely improving. Profit margins are increasing."
     (Fabricated Metal Products)

  •     "Ongoing market strength. While world/political headlines cause personal anxiety, business conditions remain solid."
     (Miscellaneous Manufacturing)

  •     "The poultry market continues to be stronger than anticipated."
     (Food, Beverage and Tobacco Products)

  •     "Continuing to source more raw materials locally and reduce exposure outside U.S."

  •     "Military and government spending is remaining strong. Commercial business has been flat to slightly down."
     (Transportation Equipment)

  •     "Our business and outlook are [strong]. We are seeing price increases from suppliers in many categories."
     (Plastics and Rubber Products)

  •     "Business is solid. Pricing pressures on commodities."
     (Furniture and Related Products)

Click here to view the complete ISM report

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