“The October PMI® registered 58.7 percent, a decrease of 2.1 percentage points from the September reading of 60.8 percent. Indicators showing expansion included new orders, production, employment, order backlogs and export orders all continuing to grow in October, supplier deliveries continuing to slow (improving) and inventories contracting during the period.”- Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee
The industries that our precision machining shops serve or rely on for supplies were up in October, including: Machinery; Transportation Equipment; Food, Beverage & Tobacco Products; Miscellaneous Manufacturing; Petroleum & Coal Products; Plastics & Rubber Products; Computer & Electronic Products; Fabricated Metal Products; Furniture & Related Products; Electrical Equipment, Appliances & Components; and Primary Metals.
While other commentators will focus on the 2.1 point drop in the PMI from September to October, we believe that this is still a very positive report that shows the ongoing strength of the manufacturing sector.
ISM Report for October
Calculated Risk Blog
Glass Half Full
