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Economy

Economic Data (USA)

Tuesday, October 01, 2019

ISM Manufacturing Index for September 2019

Earlier today, the Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for September 2019:

Predicted: 50.0%
Actual: 47.8% (-1.3 points month-on-month change)

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Previous month: 49.1%

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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 contracted in September, and the overall economy grew for the 125th 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:



  •     'Second month in a row in which shipments have outpaced new orders.'
     (Computer + Electronic Products)

  •     'Continued softening in the global automotive market. Trade-war impacts also have localized effects, particularly in select export markets. Seeing warehouses filling again after what appeared to be a short reduction of demand.'
     (Chemical Products)

  •     'Business outlook remains cautious. Orders seem to be decreasing, but luckily not as sharp of a decrease as we were expecting.'
     (Transportation Equipment)

  •     'Chinese tariffs going up are hurting our business. Most of the materials are not made in the U.S. and made only in China.'
     (Food, Beverage + Tobacco Products)

  •     'General market is slowing even more than a normal fourth-quarter slowdown.'
     (Fabricated Metal Products)

  •     'Demand softening on some product lines, backlogs have reduced, and dealer inventories are growing.'
     (Machinery)

  •     'Business has been flat for us. Year-over-year growth has slowed dramatically.'
     (Miscellaneous Manufacturing)

  •     'We have seen a reduction in sales orders and, therefore, a lower demand for products we order. We have also reduced our workforce by 10 percent.'
     (Plastics + Rubber Products)

  •     'Incoming sales are sluggish for this time of year.'
     (Furniture + Related Products)

  •     'Economy seems to be softening. The tariffs have caused much confusion in the industry.'
     (Electrical Equipment, Appliances + Components)

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ISM Manufacturing Index - 12 Month History September 2019 Update
ISM Manufacturing Index - 12 Month History
September 2019 Update

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