US Manufacturing Index Rebounds in September
TEMPE, AZ -- US manufacturing executives reported business rose in September following three consecutive months of slight contraction. The overall economy grew for the 40th consecutive month, the Institute for Supply Management added.
The PMI index of manufacturing growth rose 1.9 percentage points from August to 51.5%, indicating a return to expansion after contracting for three consecutive months. The New Orders Index was 52.3%, up 5.2 percentage points from August, indicating growth in new orders after three consecutive months of contraction. The Production Index, while up 2.3 points to 49.5%, remained below the 50% threshold, indicating a contraction in production for the second time since May 2009. The Employment Index increased by 3.1 percentage points, registering 54.7%. The Prices Index increased 4 percentage points to 58%.
Comments from the panel reflect a mix of optimism over new orders beginning to pick up, and continued concern over soft global business conditions and an unsettled political environment.”
Of the 18 manufacturing industries, 11 reported growth in September. Among those reporting contraction was Computer & Electronic Products.
|
SEPTEMBER 2012 |
||||||||||||||||||
| Index |
Series |
Series |
Percentage |
Direction |
Rate of |
Trend(a) |
||||||||||||
| PMI | 51.5 | 49.6 | +1.9 | Growing | From Contracting | 1 | ||||||||||||
| New Orders | 52.3 | 47.1 | +5.2 | Growing | From Contracting | 1 | ||||||||||||
| Production | 49.5 | 47.2 | +2.3 | Contracting | Slower | 2 | ||||||||||||
| Employment | 54.7 | 51.6 | +3.1 | Growing | Faster | 36 | ||||||||||||
| Supplier Deliveries | 50.3 | 49.3 | +1.0 |
Slowing |
From Faster |
1 | ||||||||||||
| Inventories | 50.5 | 53.0 | -2.5 | Growing | Slower | 2 | ||||||||||||
| Customers’ Inventories | 49.5 | 49.0 | +0.5 | Too Low | Slower | 10 | ||||||||||||
| Prices | 58.0 | 54.0 | +4.0 | Increasing | Faster | 2 | ||||||||||||
| Backlog of Orders | 44.0 | 42.5 | +1.5 | Contracting | Slower | 6 | ||||||||||||
| Exports | 48.5 | 47.0 | +1.5 | Contracting | Slower | 4 | ||||||||||||
| Imports | 49.5 | 49.0 | +0.5 | Contracting | Slower | 2 | ||||||||||||
| OVERALL ECONOMY
Manufacturing Sector |
Growing | Faster | 40 | |||||||||||||||
|
Growing |
From Contracting |
1 | ||||||||||||||||
(a) Number of months moving in current direction
