Oct. 1, 2014
Manufacturing Grows for 16th Straight Month
Economic activity in the manufacturing sector expanded in September for the 16th consecutive month, according to the latest Manufacturing Report on Business from the Institute for Supply Management, Tempe, Ariz. The PMI for September was 56.6 percent, a decrease of 2.4 percentage points from August, but still well above the 50 percent that signifies growth.
Of the 18 manufacturing industries surveyed, 15 reported growth in September, including primary metals, fabricated metal products and miscellaneous manufacturing. Machinery and electrical equipment, appliance and components were among the industries reporting contraction.
The average PMI for January through September of 55.2 percent corresponds to a 4.0 percent increase in real gross domestic product, estimates ISM.
Among other indices, the New Orders index registered 60 percent, a decrease of 6.7 percent from August, but still showing growth. The Production Index dipped 0.1 percentage points to 64.6 percent. The Employment Index hit 54.6 percent, down 3.5 percentage points, but still indicated growth for the 15th consecutive month.