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Economy

Economic Data (USA)

Wednesday, January 03, 2018

ISM Manufacturing Index for December 2017

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

Predicted: 58.1%
Actual: 59.7%

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Previous month: 58.2

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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.

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From Today's Report:

"...Economic activity in the manufacturing sector expanded in December, and the overall economy grew for the 103rd 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:



  •     "Our business is moving higher into the new year. Increased sales are resulting in increased purchases of CapEx and raw materials."
     (Chemical Products)

  •     "Strong international sales — Europe and Australia — versus last two years. U.S. sales continue to grow. Seeing commodity pricing pressures."
     (Machinery)

  •     "We are seeing a ramp-up with companies releasing early 2018 spend now."
     (Computer and Electronic Products)

  •     "Business conditions are good; we are tracking well to our projections for the year."
     (Miscellaneous Manufacturing)

  •     "First quarter 2018 probably will be better than the fourth quarter 2017."
     (Fabricated Metal Products)

  •     "Domestic and international sales on the rise."
     (Transportation Equipment)

  •     "Economy [is] strong and business is strong, yet signals of headwinds in 2018 are persistent."
     (Food, Beverage and Tobacco Products)

  •     "All suppliers are reporting strong business activity and difficulties obtaining qualified employees."
     (Paper Products)

  •     "Demand at this time is strong in the construction part of our business. I think it is due to the impact of the hurricanes and the rebuild and new construction that is required."
     (Plastics and Rubber Products)

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ISM Manufacturing Index History
ISM Manufacturing Index History

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