Economic activity in the manufacturing sector expanded in September for the 33rd consecutive month, and the overall economy grew for the 76th consecutive month, according to the Institute for Supply Management’s latest Manufacturing ISM Report On Business issued Oct. 1.
The report is based on data compiled from purchasing and supply executives nationwide, including new orders, production, employment, supplier deliveries, inventories, prices, backlog of orders, exports and imports.
The September Purchasing Managers Index (PMI) registered 50.2 percent, a decrease of 0.9 percentage point from the August reading of 51.1 percent.
The New Orders Index registered 50.1 percent, a decrease of 1.6 percentage points from the reading of 51.7 percent in August.
The Production Index registered 51.8 percent, 1.8 percentage points below the August reading of 53.6 percent.
The Employment Index registered 50.5 percent, 0.7 percentage point below the August reading of 51.2 percent.
Backlog of Orders registered 41.5 percent, a decrease of 5 percentage points from the August reading of 46.5 percent.
The Prices Index registered 38 percent, a decrease of 1 percentage point from the August reading of 39 percent, indicating lower raw materials prices for the 11th consecutive month.
The New Export Orders Index registered 46.5 percent, the same reading as in August. Comments from the panel are mixed with some concern about the global economy and customer confidence.”
Of the 18 manufacturing industries, seven are reporting growth in September in the following order: Printing & Related Support Activities; Textile Mills; Furniture & Related Products; Food, Beverage & Tobacco Products; Miscellaneous Manufacturing; Paper Products; and Nonmetallic Mineral Products.
The 11 industries reporting contraction in September — listed in order — are: Primary Metals; Apparel, Leather & Allied Products; Petroleum & Coal Products; Wood Products; Electrical Equipment, Appliances & Components; Machinery; Computer & Electronic Products; Fabricated Metal Products; Plastics & Rubber Products; Transportation Equipment; and Chemical Products.