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Nov. 14, 2012
ISM: Manufacturing Activity Expands in October
Economic activity in the manufacturing sector expanded in October for the second consecutive month following three months of slight contraction, report the nation’s supply executives in the latest Manufacturing ISM Report on Business from the Institute for Supply Management, Tempe, Ariz. The PMI registered 51.7 percent in October, up 0.2 percent from its September reading.
Primary metals, fabricated metal products, appliances and components all reported contraction in October, however. Miscellaneous manufacturing was one of eight industries reporting growth.
"The past relationship between the PMI and the overall economy indicates that the average PMI for January through October of 52 percent corresponds to a 3.2 percent increase in real gross domestic product. In addition, if the PMI for October is annualized, it corresponds to a 3.1 percent increase in real GDP annually," says Bradley J. Holcomb, chairman of ISM’s Manufacturing Business Survey Committee.
According to ISM’s data, the overall economy grew for the 41st consecutive month. The New Orders Index registered 54.2 percent, an increase of 1.9 percentage points from September, indicating growth in new orders for the second consecutive month. The Production Index registered 52.4 percent, an increase of 2.9 percentage points, indicating growth in production following two months of contraction.
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2012 Directory of Master Distributors
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The Metal Center News Directory of Master Distributors—distributors who sell to other distributors—is an invaluable tool for service centers seeking new sources for special or hard-to-find products. Master distributors play an important role in the marketplace, giving service centers an alternative to buying in mill quantities and helping to remove redundant and excess inventories from the distribution channel.
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