ISM’S PMI remains strong
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Manufacturing News, Source : TheManufacturer.com
Published : 03 Sep 2002 17:19
Overall, manufacturing has grown for the seventh consecutive month, according to the Institute for Supply Management (ISM).
The ISM’s latest Purchasing Managers’ Index (PMI) remains strong at its two-month reading of 50.5%. However, ISM’s New Orders index decreased from 50.4% to 49.7%, and its Supplier Deliveries index decreased from 54.9% in July to 53.4%.
“Putting the year in perspective, we now have seven consecutive months of modest growth,” said Norbert Ore, ISM’s chair of the Business Survey Committee. “August’s PMI, at 50.5%, indicates that manufacturing improved when compared to July. New orders softened and are a cause for concern as we look at the balance of the year. At the current level of growth in the overall economy, many manufacturers find themselves anxious about second-half sales.”
Of the 20 industries in the manufacturing sector, eight industries reported growth, including printing and publishing, leather, transportation and equipment, apparel, chemicals, food, industrial and commercial equipment and computers, and paper.
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