*Number of months moving in current direction. Manufacturing ISM® Report On Business® data is seasonally adjusted for the New
Orders, Production, Employment and Supplier Deliveries Indexes.
MANUFACTURING AT A GLANCE
Index Aug Index Jul Index %Point Change Direction Rateof Change Trend* (months)
PMI® 58.8 56.3 + 2. 5 Growing Faster 12
New Orders 60.3 60.4 -0.1 Growing Slower 12
Production 61.0 60.6 +0.4 Growing Faster 12
Employment 59.9 55.2 + 4. 7 Growing Faster 11
Supplier Deliveries 57.1 55.4 + 1. 7 Slowing Faster 16
Inventories 55.5 50.0 + 5. 5 Growing From Unchanged 1
Customers’ Inventories 41.0 49.0 - 8.0 Too Low Slower 2
Prices 62.0 62.0 0 Increasing Same 18
Backlog of Orders 57.5 55.0 + 2. 5 Growing Faster 7
New Export Orders 55.5 57.5 - 2.0 Growing Slower 18
Imports 54.5 56.0 - 1. 5 Growing Slower 7
OVERALL ECONOMY Growing Faster 99
Manufacturing Sector Growing Faster 12
43.3% = Overall Economy
50% = Manufacturing Economy
2017 2016 2015
Commodities Up in Price: Aluminum ( 10); Caustic Soda ( 2); Copper; Corrugate ( 11); Corrugated Boxes ( 6); Electric Components ( 3); Food
Ingredients; Lumber ( 2); Mechanical Components; Memory — Computer ( 2); Resins; Scrap — All Types; Solvents; Steel; Steel — Hot Rolled ( 9);
and Titanium Dioxide ( 2).
Commodities Down in Price: Benzene Products.
Commodities in Short Supply: Capacitors ( 2); Electric Components ( 3); Electronic Components ( 6); Integrated Circuits ( 2); Memory —
Computer ( 2); and Methacrylates.
Manufacturing expanded in August as the PMI® registered 58.8 percent, an increase
of 2. 5 percentage points from the July reading of 56.3 percent. This indicates growth
in manufacturing for the 12th consecutive month and is the highest reading since April
2011, when the index registered 59.1 percent. A reading above 50 percent indicates
that the manufacturing economy is generally expanding; below 50 percent indicates
that it is generally contracting. A PMI® above 43.3 percent, over a period of time,
generally indicates an expansion of the overall economy.
Economic activity in the manufacturing sector expanded in August, and the overall economy grew for the 99th consecutive month, say the nation’s supply executives in the
latest Manufacturing ISM® Report On Business®.
The August PMI® registered 58.8
percent. The New Orders Index
registered 60.3 percent, a decrease
of 0.1 percentage point from the
July reading of 60.4 percent. The
Employment Index registered 59.9
percent, an increase of 4. 7 percentage points from the July reading
of 55.2 percent. The Inventories Index registered 55.5 percent,
an increase of 5. 5 percentage points from the July reading of 50
percent. The Prices Index registered 62 percent in August, the
same reading as July, indicating higher raw materials’ prices for
the 18th consecutive month. Comments from the panel reflect
expanding business conditions, with new orders, production,
employment, backlog and exports all growing in August, as well as
supplier deliveries slowing (improving) and inventories increasing
during the period. The Customers’ Inventories Index experienced
a sharp decline in August compared
to July. Of the 18 manufacturing
industries, 14 reported growth in
August, in the following order: Textile
Mills; Petroleum & Coal Products;
Machinery; Transportation Equipment;
Fabricated Metal Products; Computer & Electronic Products;
Paper Products; Electrical Equipment, Appliances & Components;
Miscellaneous Manufacturing‡; Chemical Products; Nonmetallic
Mineral Products; Plastics & Rubber Products; Printing & Related
Support Activities; and Food, Beverage & Tobacco Products.
‡Miscellaneous Manufacturing (products such as medical equipment and supplies, jewelry,
Note: The number of consecutive months the commodity is listed is indicated after each item.