Manufacturing News

Are GM and Boeing to blame for October's weak manufacturing numbers?

By Erik Sherman for Fortune

Nov 04, 2019

Manufacturing had some good and bad news in October.

First the downside. The sector still saw contraction, according to Friday's Purchasing Managers Index (PMI) report, a manufacturing strength indicator from the Institute for Supply Management (ISM). At 48.3%, it shows contraction, as does any value under 50%.

The good news: things are better than in September, when the PMI was 47.8%. And it might have seen more improvement still except for GM and Boeing.

"It was a pretty strong contraction month for Transportation equipment," the weakest manufacturing segment in the month, said Timothy Fiore, chair of the ISM's manufacturing business survey committee, during a conference call with reporters.

To learn more, read "Why GM and Boeing Share the Blame for Weak Manufacturing Numbers" from Fortune.