Manufacturing numbers up for August

Manufacturing News, Source : TheManufacturer.com
Published : 02 Sep 2003 17:25

The Institute for Supply Management (ISM) Manufacturing Business Survey was released today with good news from the nation's manufacturing sector.

“The surge in August Production is very positive for the manufacturing sector," said Norbert J. Ore, C.P.M., chair of the SMI survey committee. "The Production Index is the highest that it has been since June 1999, when it also registered 61.6 percent. The New Orders Index reflected its highest reading since January 2003. The overall picture is encouraging as many manufacturers traditionally experience an upturn during the last four months of the year.”

ISM’s PMI is 54.7 percent in August, an increase of 2.9 percentage points when compared to 51.8 in July. ISM’s New Orders Index rose 3 percentage points from 56.6 percent in July to 59.6 percent in August. ISM’s Production Index rose 8.3 percentage points from 53.3 percent in July to 61.6 percent in August. The ISM Employment Index is at 45.9 percent for August, a decrease of 0.2 percentage point when compared to the 46.1 percent reported in July.

ISM’s Supplier Deliveries Index registered 53.3 percent, 2.2 percentage points higher than July’s 51.1 percent. ISM’s Inventories Index declined to 42.5 percent in August from the 45.9 percent reported in July. ISM’s Customers’ Inventories Index for August is at 43 percent, an increase of 0.5 percentage point compared to the July reading of 42.5 percent. ISM’s Prices Index in August is 53 percent, the same as reported in July.

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