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Economic Data (USA)

Thursday, February 01, 2018

ISM Manufacturing Index for January 2018

Earlier today, the Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for January 2018:

Predicted: 58.6%
Actual: 59.1%


Previous month (revised): 59.3


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.


From Today's Report:

"...Economic activity in the manufacturing sector expanded in January, and the overall economy grew for the 105th 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:

  •     "Sales nationally and internationally are strong in Q1. We are increasing our CapEx spend by 30 percent to 40 percent over [the] previous year."
     (Chemical Products)

  •     "We have heard reports of additional business due to the recent reduction of tax rates."

  •     "Business outlook is positive on all fronts right now with our customers. Budgets are being approved for new projects, and component prices from suppliers have temporarily stabilized."
     (Computer and Electronic Products)

  •     "Our usual winter slowdown has not occurred, and we are very busy with new orders."
     (Furniture and Related Products)

  •     "Slow start to 2018; pricing on metals is heading up and quotes/orders are picking up as well."
     (Fabricated Metal Products)

  •     "Overall, business remains steady. With several key programs to begin ramping up in the industry, outlook looks good for calendar year 2018."
     (Transportation Equipment)

  •     "Employment is very tight in our area."
     (Food, Beverage and Tobacco Products)

  •     "Business continues to strengthen."
     (Paper Products)

  •     "Business is starting the new year strong. Consumer confidence seems to be driving a lot of our customers’ order requirements higher."
     (Plastics and Rubber Products)


ISM Manufacturing Index History
ISM Manufacturing Index History


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