Economic activity in the manufacturing sector expanded in September, and the overall economy grew for the 100th consecutive month, say the nation’s supply executives in the latest, according to the nation’s supply executives in the latest Manufacturing ISM Report On Business.
The Report On Business measures its data using the Purchasing Manager’s Index (PMI), which is an indicator of economic health in the manufacturing sector. A reading above 50 percent indicates that the manufacturing economy is generally expanding, while below 50 percent indicates that it is generally contracting, according to the Report On Business.
The September PMI registered 60.8 percent, an increase of 2-percentage points from the August reading of 58.8 percent.
The New Orders Index registered 64.6 percent, an increase of 4.3 percentage points from the August reading of 60.3 percent. The Production Index registered 62.2 percent, a 1.2 percentage point increase compared to the August reading of 61 percent. The Employment Index registered 60.3 percent, an increase of 0.4 percentage point from the August reading of 59.9 percent.
Of the 18 manufacturing industries, 17 reported growth in September, including: textile mills; machinery; nonmetallic mineral products; transportation equipment; plastics & rubber products; paper products; wood products; computer & electronic products; food, beverage & tobacco products; chemical products; fabricated metal products; miscellaneous manufacturing; petroleum & coal products; apparel, leather & allied products; printing & related support activities; electrical equipment, appliances & components; and primary metals. one industry, furniture & related products, reported contraction in September compared to August.
Commodities Up in Price
Aluminum; brass; caustic soda; copper; corrugate; freight; gasoline; HDPE; home heating oil; hydrochloric acid; ldpe; lumber; computer memory; nickel; plastic resins; polyethylene products; polypropylene; polyvinyl chloride; solvents; stainless steel; steel scrap of all types; steel; and hot rolled steel.
Commodities Down in Price
Commodities in Short Supply
capacitors; electric components; freight; HDPE; computer memory; methacrylates; plastic resins; polyvinyl chloride; resistors; synthetic fibers; and titanium dioxide.