US Factory Growth Lowest in 6 Months: ISM


The Institute for Supply Management’s Manufacturing PMI in the US fell to 57.7 in October of 2018 from 59.8 in September and below market expectations of 59. The reading pointed to the slowest growth in factory activity in six months after reaching the highest since 2004 in August. New orders, production and employment eased and price pressures continued.

Slowdowns were seen for new orders (57.4 from 61.8), production (59.9 from 63.9); employment (56.8 from 58.8), inventories (50.7 from 53.3) and new expoet orders (52.2 from 56). Also, supplier deliveries eased (63.8 from 61.1) and price pressures intensified (71.6 from 66.9). On the other hand, backlogs of orders rose slightly faster (55.8 from 55.7). 

Of the 18 manufacturing industries, 13 reported growth in October, in the following order: Textile Mills; Electrical Equipment, Appliances & Components; Apparel, Leather & Allied Products; Plastics & Rubber Products; Food, Beverage & Tobacco Products; Computer & Electronic Products; Furniture & Related Products; Miscellaneous Manufacturing; Machinery; Transportation Equipment; Printing & Related Support Activities; Chemical Products; and Paper Products. The four industries reporting contraction in October are: Wood Products; Primary Metals; Nonmetallic Mineral Products; and Fabricated Metal Products.

US Factory Growth Lowest in 6 Months: ISM


ISM | Joana Taborda | joana.taborda@tradingeconomics.com
11/1/2018 2:14:15 PM