Manufacturing gets a boost in September
Manufacturing activity improved in September, according to the latest report from the Institute for Supply Management. The purchasing manager’s composite index (PMI) rose 0.5 percent from August.
At 56.2 the purchasing manager’s composite index (PMI) rose 0.5% from August and climbing above the level seen a year earlier giving an indication of improving conditions for manufacturing.
Respondent assessments still appear to be hopeful with several noting strength and positive outlook:
"Global sales generally trending moderately higher." (Textile Mills)
"Slight increase in demand. Forecast looks better. 4Q looking better than 3Q — should begin to see demand increase in October/November." (Food, Beverage & Tobacco Products)
"Raw materials shortages continue. General trends are up, which enhances shortage issues." (Wood Products)
"Overall business is flat to down across the board." (Machinery)
"Housing continues to improve, resulting in improved conditions for our industry." (Furniture & Related Products)
"Rising costs of China labor has us re-evaluating our current position in that country." (Computer & Electronic Products)
"Steady increase in work this month." (Primary Metals)
"Overall business is picking up." (Transportation Equipment)
"Outlook remains strong with housing market and customer orders." (Electrical Equipment, Appliances & Components)
"Labor rates along the Gulf Coast are rising with the increased activity of construction and maintenance projects." (Chemical Products)