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Economic Data (USA)

Monday, October 02, 2017

ISM Manufacturing Index for September 2017

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

Predicted: 58.0%
Actual: 60.8%

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 58.8%.


From Today's Report:

"...Economic activity in the manufacturing sector expanded in September, and the overall economy grew for the 100th consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®..."

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

  •     "Hurricanes causing supply chain and pricing issues."
     (Chemical Products)

  •     "Business levels continue [to be] strong; usually by now, a seasonal downturn begins."

  •     "Energy sector (oil and gas) continues to be strong. Price of oil appears to be beginning to stabilize."
     (Computer and Electronic Products)

  •     "We’ve had a very good year and we are forecasting continued strong demand for our product in 2018."
     (Miscellaneous Manufacturing)

  •     "Business is strong. However, we are concerned about price increases due to the hurricanes."
     (Plastics and Rubber Products)

  •     "We are closely watching the Houston events as many of our production chemicals are produced in the Gulf region. Some tightening of supply and/or price increases expected."
     (Paper Products)

  •     "Labor shortages continue to haunt operational capacity both at [the] local plant [level] and up and down the supply chain."
     (Transportation Equipment)

  •     "Hurricanes Harvey and Irma will have significant effects on input costs. Disruption in supply chain. Concerns of transportation."
     (Food, Beverage and Tobacco Products)

  •     "Hurricane Harvey, and now Irma, have impacted the business (building materials). Increasing sales but also causing significant price increases on input raw materials.
     (Nonmetallic Mineral Products)

  •     "Lumber prices starting to drop, and log prices starting to increase. Not the best combination.
     (Wood Products)

Click here to view the complete ISM report

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