ISM Manufacturing Index for August 2017

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

Predicted: 56.6%
Actual: 58.8%

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 56.3%.

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From Today's Report:

"...Economic activity in the manufacturing sector expanded in August, and the overall economy grew for the 99th consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®..."

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

•     "Steady demand across businesses."
   (Chemical Products)

•     "Demand for light construction equipment continues strong; usually at this time of year, demand slackens."
   (Machinery)

•     "Overall very steady; starting to pick up as expected."
   (Computer and Electronic Products)

•     "Overall optimism about the market, both for 2017 and 2018."
   (Miscellaneous Manufacturing)

•     "Business has strengthened over the summer, beyond [the] same period last year."
   (Paper Products)

•     "Busy production month for August."
   (Textile Mills)

•     "Sales remain strong month-to-month.
   (Transportation Equipment)

•     "Slightly higher order intake."
   (Electrical Equipment, Appliances and Components)

•     "Order board is very strong right now."
   (Food, Beverage and Tobacco Products)

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

Click here to view the complete ISM report

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