Economic activity in the manufacturing sector expanded in August for the thirteenth consecutive month, and the overall economy grew for the sixteenth consecutive month, according the nation's supply executives in the latest Manufacturing ISM Report On Business.
The report was issued by Norbert J. Ore, CPSM, C.P.M., chair of the Institute for Supply Management Manufacturing Business Survey Committee. "Manufacturing activity continued at a very positive rate in August as the PMI rose slightly when compared to July. In terms of month-over-month improvement, the Production and Employment Indexes experienced the greatest gains, while new orders continued to grow but at a slightly slower rate. August represents the thirteenth consecutive month of growth in U.S. manufacturing."
Performance by industry
Eleven of the 18 manufacturing industries are reporting growth in August, in the following order: Primary Metals; Apparel, Leather and Allied Products; Transportation Equipment; Fabricated Metal Products; Electrical Equipment, Appliances and Components; Miscellaneous Manufacturing; Computer and Electronic Products; Paper Products; Chemical Products; Food, Beverage and Tobacco Products; and Printing and Related Support Activities. The five industries reporting contraction in August are: Furniture and Related Products; Petroleum and Coal Products; Nonmetallic Mineral Products; Plastics and Rubber Products; and Machinery.
|MANUFACTURING AT A GLANCE
|Customers' Inventories||43.5||39.0||+4.5||Too Low||Slower||17|
|Backlog of Orders||51.5||54.5||-3.0||Growing||Slower||8|
*Number of months moving in current direction.
Commodities reported up/down in price and in short supply
Commodities Up in Price
Caustic Soda; Copper; and Corrugated Containers (6).
Commodities Down in Price
Polyethylene (2); Polypropylene; and Steel (2).
Commodities in Short Supply
Capacitors (2) is the only commodity listed in short supply.