Manufacturing Sector Growth Continues
By Metal Center News Staff
on Oct 12, 2021
Economic activity in the manufacturing sector grew in September, with the overall economy notching a 16th consecutive month of growth, said the nation’s supply executives in the latest Manufacturing ISM Report On Business. The PMI in September was 61.1 percent, an increase of 1.2 percentage points from the August reading.
Among other indices, New Orders registered 66.7 percent, flat from the prior month; the Product Index declined 0.6 percent to 59.4 percent; and the Prices Index was at 81.2 percent, up 1.8 percentage points from the August reading. The Employment Index returned to growth a 50.2 percent, 1.2 percentage points higher than August.
All of the six biggest manufacturing industries, including fabricated metal products, registered moderate to strong growth in September.
“Business Survey Committee panelists reported that their companies and suppliers continue to deal with an unprecedented number of hurdles to meet increasing demand. All segments of the manufacturing economy are impacted by record-long raw materials lead times, continued shortages of critical materials, rising commodities prices and difficulties in transporting products,” said Timothy R. Fiore, chair of the ISM’s Manufacturing Business Survey Committee.