Manufacturing economic activity up: ISM

Manufacturing News, Source : TheManufacturer.com
Published : 03 Oct 2005 19:29

Despite Hurricane Katrina, economic activity in the manufacturing sector grew in September for the 28th consecutive month, while the overall economy grew for the 47th consecutive month, according to US supply executives in the latest Manufacturing ISM Report On Business.

The report was issued today by Norbert J. Ore, chair of the Institute for Supply Management Manufacturing Business Survey Committee. “The manufacturing sector grew for the 28th consecutive month in September based on the ISM data. The PMI made a strong move to the upside as new orders and production rose significantly. This move was supported by slower deliveries and growing order backlogs. While energy prices and the impact from Hurricane Katrina are major concerns, the manufacturing sector has regained significant momentum.”

The PMI indicates that the manufacturing economy grew in September for the 28th consecutive month. The PMI for September registered 59.4 percent, an increase of 5.8 percentage points when compared to August's reading of 53.6 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

The 16 industries reporting growth in September are: paper; wood and wood products; electronic components and equipment; apparel; tobacco; furniture; chemicals; instruments and photographic equipment; transportation and equipment; food; primary metals; textiles; rubber and plastic products; fabricated metals; printing and publishing; and industrial and commercial equipment and computers.

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