The Industrial Supply Management report is out and it's pretty good news! Manufacturing is finally expanding. Any reading above 50 indicates growth. The bad news is they are still laying people off, employment is still contracting. New Orders are way up, to 64.9 from 55.3 last month.
The Institute for Supply Management released their May report this morning.
Just about every category improved. The overall reading of 42.8, while technically contraction, has in the past generally coincided with actual expansion of the manufacturing sector.*
The Institute for Supply Management has come out with it's latest manufacturing numbers for January 2009.
January marked 12 months of contraction in the manufacturing sector. However, the rate of decline as measured by the PMI was slower than experienced in December.
Here Come the Stats. The Institute of Supply ManagementPMI is now at 36.2. That is the lowest number since 1980, when it was 24.2.
PMI is a manufacturing index with nine components: New Orders, Production, Employment, Supplier Deliveries, Inventories, Prices, New Export Orders, Imports, and Backlogs.
The Institute for Supply Management's factory index fell to 38.9 from 43.5 in September; 50 is the dividing line between expansion and contraction. The Commerce Department said separately that construction spending fell for the eighth time in 10 months in September
Recent comments