Interviews
August manufacturing sector up: PMI at 54.5%
04 Sep '06
3 min read
Economic activity in the manufacturing sector grew in August for the 39th consecutive month, while the overall economy grew for the 58th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report on Business.
The report was issued by Norbert J. Ore, C.P.M., and chair of the Institute for Supply Management Manufacturing Business Survey Committee. "Manufacturing growth continued at a very strong pace in August. Though the rate of growth was slightly under that of July, the sector continues to enjoy strength in new orders and production."
"In August we also saw an uptick in manufacturing employment. The major concerns in manufacturing at this point are the continued upward pricing pressure that has existed for the past 13 months, and some industries are experiencing a degree of inventory buildup."
TOP PERFORMING INDUSTRIES
The nine industries reporting growth in August — listed in order — are: Electrical Equipment, Appliances & Components; Fabricated Metal Products; Miscellaneous Manufacturing; Chemical Products; Computer & Electronic Products; Primary Metals; Food, Beverage & Tobacco Products; Furniture & Related Products; and Paper Products.
PMI
The PMI indicates that the manufacturing economy grew in August for the 39th consecutive month as it registered 54.5 percent, a decrease of 0.2 percentage point when compared to July's reading of 54.7 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
The report was issued by Norbert J. Ore, C.P.M., and chair of the Institute for Supply Management Manufacturing Business Survey Committee. "Manufacturing growth continued at a very strong pace in August. Though the rate of growth was slightly under that of July, the sector continues to enjoy strength in new orders and production."
"In August we also saw an uptick in manufacturing employment. The major concerns in manufacturing at this point are the continued upward pricing pressure that has existed for the past 13 months, and some industries are experiencing a degree of inventory buildup."
TOP PERFORMING INDUSTRIES
The nine industries reporting growth in August — listed in order — are: Electrical Equipment, Appliances & Components; Fabricated Metal Products; Miscellaneous Manufacturing; Chemical Products; Computer & Electronic Products; Primary Metals; Food, Beverage & Tobacco Products; Furniture & Related Products; and Paper Products.
PMI
The PMI indicates that the manufacturing economy grew in August for the 39th consecutive month as it registered 54.5 percent, a decrease of 0.2 percentage point when compared to July's reading of 54.7 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
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