Another US economic indicator slips
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Manufacturing News, Source : TheManufacturer.com
Published : 01 Nov 2002 16:21
Following yesterday’s news of the drop in the National Association of Purchasing Management-Chicago’s business barometer to 45.9 (from 48 in September), the Institute for Supply Management reports its PMI index has declined for the second consecutive month.
“There has been very little month-over-month change in manufacturing activity, as the PMI has averaged 49.8% over the last four months,” said Norbert Ore, ISM chair. “The West Coast dock strike obviously had an impact as the Imports Index fell six percentage points.”
The PMI stands at 48.5% for October, a decrease of one percentage point. The New Orders index rose slightly, from 50.2% in September to 50.9% in October. “The sector lacks drivers at this point,” said Ore. “While new orders are relatively unchanged, the uncertainty with regard to terrorism and potential military action continue to add to the stagnation.”
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