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Industry News
American manufacturing expansion weakens in October

The Institute for Supply Management reports that the U.S. manufacturing index for October was 50.8 percent, down slightly from 51.6 percent in September.

Author:
Posted on: 11/1/2011
Source: CompositesWorld

The Institute for Supply Management (ISM, Tempe, Ariz., USA) on Nov. 1 reported that economic activity in the U.S. manufacturing sector expanded in October 2011 for the 27th consecutive month, and the overall economy grew for the 29th consecutive month. ISM's Purchasing Managers Index (PMI) registered 50.8 percent, following an September value of 51.6 percent. A reading of more than 50 percent indicates that the manufacturing economy is generally expanding; less than 50 percent indicates that it is generally contracting.

The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey Committee. “The PMI registered 50.8 percent, a decrease of 0.8 percentage point from September’s reading of 51.6 percent, indicating expansion in the manufacturing sector for the 27th consecutive month. The New Orders Index increased 2.8 percentage points from September to 52.4 percent, indicating a return to growth after three months of contraction. The Prices Index, at 41 percent, dropped 15 percentage points, and is below the 50 percent mark for the first time since May 2009 when it registered 43.5 percent. Inventories decreased to 46.7 percent, which is 5.3 percentage points below the September reading of 52 percent. Comments from respondents are mixed, indicating positive relief from raw materials pricing and continuing strength in a few industries, but there is also more concern and caution about growth in this uncertain economy.”

12-month ISM Manufacturing Index history (percent):

  • October 2011: 50.8
  • September 2011: 51.6
  • August 2011: 50.6
  • July 2011: 50.9
  • June 2011: 55.3
  • May 2011: 53.5
  • April 2011: 60.4
  • March 2011: 61.2
  • February 2011: 61.4
  • January 2011: 60.8
  • December 2010: 57.0
  • November 2010: 56.6

 

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