Widget Image
Follow PPD Social Media
Friday, June 21, 2024
HomeNewsEconomyISM Manufacturing Report On Business Slightly Beats Median Forecast Amid Historic Optimism

ISM Manufacturing Report On Business Slightly Beats Median Forecast Amid Historic Optimism

FILE PHOTO - Robotic arms spot welds on the chassis of a Ford Transit Van under assembly at the Ford Claycomo Assembly Plant in Claycomo, Missouri April 30, 2014. (Photo: REUTERS)
FILE PHOTO - Robotic arms spot welds on the chassis of a Ford Transit Van under assembly at the Ford Claycomo Assembly Plant in Claycomo, Missouri April 30, 2014. (Photo: REUTERS)

FILE PHOTO – Robotic arms spot welds on the chassis of a Ford Transit Van under assembly at the Ford Claycomo Assembly Plant in Claycomo, Missouri April 30, 2014. (Photo: REUTERS)

The Manufacturing Report On Business, the Institute for Supply Management gauge of national factory activity, came in slightly higher than the median forecast. The index, which has beaten the Econoday consensus for 7 months in a row by coming in at 57.2, comes as the first Manufacturers’ Outlook Survey since President Donald Trump took office shows a “dramatic shift in sentiment” to the highest level ever measured.

Of the 18 manufacturing industries, 17 reported growth in March and no industry reported contraction compared to February.

The National Association of Manufacturers (NAM) survey found more than 93% of manufacturers feeling positive about their economic outlook.

MANUFACTURING AT A GLANCE
March 2017
Index Series
Index
Mar
Series
Index
Feb
Percentage
Point
Change
Direction Rate
of
Change
Trend*
(Months)
PMI® 57.2 57.7 -0.5 Growing Slower 7
New Orders 64.5 65.1 -0.6 Growing Slower 7
Production 57.6 62.9 -5.3 Growing Slower 7
Employment 58.9 54.2 +4.7 Growing Faster 6
Supplier Deliveries 55.9 54.8 +1.1 Slowing Faster 11
Inventories 49.0 51.5 -2.5 Contracting From
Growing
1
Customers’ Inventories 47.0 47.5 -0.5 Too Low Faster 6
Prices 70.5 68.0 +2.5 Increasing Faster 13
Backlog of Orders 57.5 57.0 +0.5 Growing Faster 2
New Export Orders 59.0 55.0 +4.0 Growing Faster 13
Imports 53.5 54.0 -0.5 Growing Slower 2
OVERALL ECONOMY Growing Slower 94
Manufacturing Sector Growing Slower 7

Manufacturing ISM® Report On Business® data is seasonally adjusted for the New Orders, Production, Employment and Supplier Deliveries Indexes.

*Number of months moving in current direction.

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial