Oct. 2, 2013
PMI Keeps Climbing in September to 56.2 Percent
Economic activity in the manufacturing sector expanded in September for the fourth consecutive month as the Institute for Supply Management’s PMI hit 56.2 percent.
“September's PMI reading is the highest of the year, leading to an average PMI reading of 55.8 percent for the third quarter,” says Bradley J. Holcomb, chairman of ISM’s survey committee. The survey of purchasing executives also revealed increases in the New Orders Index to 60.5 percent, the Production Index to 62.6 percent and the Employment Index to 55.4 percent. A reading above 50 percent indicates growth.
Of the 18 manufacturing industries surveyed by the Tempe, Ariz.-based trade group, 11 reported growth in September, including electrical equipment, appliances and components, fabricated metal products and transportation equipment. Primary metals was among the industries reporting contraction in September.