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HomeNewsEconomyPMI Manufacturing Index Continued to Gain in February

PMI Manufacturing Index Continued to Gain in February

ISM-manufacturing-index
ISM-manufacturing-index

The Institute for Supply Management’s Manufacturing Report On Business Survey. (Photo: REUTERS)

The PMI Manufacturing Index, the Institute for Supply Management’s (ISM) Report on Business, increased 1.7 points to 57.7% as 17 of 18 industries reported growth. Bradley J. Holcomb, the chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee, said 17 of 18 manufacturing industries reported growth in February.

WHAT RESPONDENTS ARE SAYING …

  • “Business [is] improving and lead times are extending by two or more weeks.” (Chemical Products)
  • “Very positive outlook for this quarter. Production goals have been adjusted multiple times and increased each time due to demand.” (Computer & Electronic Products)
  • “Product demand continues to be solid.” (Plastics & Rubber Products)
  • “Bookings are heavy early in the season. Expect robust first half of the year.” (Primary Metals)
  • “Demand still outstrips capacity. Competitors have announced heavy capital investments to increase capacity.” (Food, Beverage & Tobacco Products)
  • “Sales and business continue to be strong and increasing.” (Machinery)
  • “Business holding steady in Q1.” (Transportation Equipment)
  • “Medical device manufacturing is still strong.” (Miscellaneous Manufacturing)
  • “Even though oil and gas prices are on the upswing, we still face a tough 2017 and will continue to save on costs.” (Petroleum & Coal Products)
  • “Major focus on commodities and potential [for] further inflation.” (Electrical Equipment, Appliances & Components)

Of the 18 manufacturing industries, 17 reported growth in February in the following order: Textile Mills; Apparel, Leather & Allied Products; Machinery; Computer & Electronic Products; Primary Metals; Plastics & Rubber Products; Nonmetallic Mineral Products; Chemical Products; Paper Products; Fabricated Metal Products; Transportation Equipment; Food, Beverage & Tobacco Products; Wood Products; Electrical Equipment, Appliances & Components; Printing & Related Support Activities; Petroleum & Coal Products; and Miscellaneous Manufacturing. The only industry reporting contraction in February is Furniture & Related Products.

MANUFACTURING AT A GLANCE
February 2017
Index Series Index

Feb

Series Index

Jan

Percentage

Point

Change

Direction Rate of Change Trend* (Months)
PMI® 57.7 56.0 +1.7 Growing Faster 6
New Orders 65.1 60.4 +4.7 Growing Faster 6
Production 62.9 61.4 +1.5 Growing Faster 6
Employment 54.2 56.1 -1.9 Growing Slower 5
Supplier Deliveries 54.8 53.6 +1.2 Slowing Faster 10
Inventories 51.5 48.5 +3.0 Growing From Contracting 1
Customers’ Inventories 47.5 48.5 -1.0 Too Low Faster 5
Prices 68.0 69.0 -1.0 Increasing Slower 12
Backlog of Orders 57.0 49.5 +7.5 Growing From Contracting 1
New Export Orders 55.0 54.5 +0.5 Growing Faster 12
Imports 54.0 50.0 +4.0 Growing From Unchanged 1
OVERALL ECONOMY

Manufacturing Sector

Growing Faster 93
Growing Faster 6

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.

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