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Purchasing Managers Index: Difference between revisions
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== '''ISM''' == | == '''ISM''' == | ||
=== September 2023 === | |||
The U.S. manufacturing sector contracted in September, as the Manufacturing PMI<sup>®</sup> registered 49 percent, 1.4 percentage points higher than the reading of 47.6 percent recorded in August and its highest figure since November 2022 (49 percent). '''This is the 11th month of contraction, but the third month of positive chang'''e. '''Of the five subindexes that directly factor into the Manufacturing PMI, two (the Production and Employment indexes) are in expansion territory, up from none in August, breaking a three-month streak of no such growth'''. This good news is somewhat counterbalanced by the New Orders Index logging its 13th month in contraction territory, though at a slower rate. Of the six biggest manufacturing industries, two — Food, Beverage & Tobacco Products; and Petroleum & Coal Products — registered growth in September,” says Fiore. A reading above 50 percent indicates that the manufacturing sector is generally expanding; below 50 percent indicates that it is generally contracting. | |||
Seventy-one percent of manufacturing gross domestic product (GDP) contracted in September, up from 62 percent in August. More importantly, the share of sector GDP registering a composite PMI<sup>®</sup> calculation at or below 45 percent — a good barometer of overall manufacturing weakness — was 6 percent in September, compared to 15 percent in August and 25 percent in July, a clear positive. '''The past relationship between the Manufacturing PMI<sup>®</sup> and the overall economy indicates that the September reading (49 percent) corresponds to a change of plus-0.1 percent in real gross domestic product (GDP) on an annualized basis''' | |||
* New Orders Index remained in contraction territory at 49.2 percent, 2.4 percentage points higher than the figure of 46.8 percent recorded in August. | |||
* Production Index reading of 52.5 percent is a 2.5-percentage point increase compared to August’s figure of 50 percent. | |||
* Prices Index registered 43.8 percent, down 4.6 percentage points compared to the reading of 48.4 percent in August. | |||
* Backlog of Orders Index registered 42.4 percent, 1.7 percentage points lower than the August reading of 44.1 percent. | |||
* Employment Index registered 51.2 percent, up 2.7 percentage points from the 48.5 percent reported in August. | |||
=== August 2023 === | === August 2023 === | ||