October Purchasing Managers' Index Inched Down to 60.8%
Tempe, AZ, November 1, 2021-The October Manufacturing Purchasing Managers’ Index (PMI) registered 60.8%, a decrease of 0.3 percentage point from the September reading of 61.1%, according to the latest Manufacturing ISM Report On Business.
This figure indicates expansion in the overall economy for the 17th month in a row after a contraction in April 2020.
The New Orders Index registered 59.8%, down 6.9 percentage points compared to the September reading of 66.7%.
The Production Index registered 59.3%, a decrease of 0.1 percentage point compared to the September reading of 59.4%.
The Prices Index registered 85.7%, up 4.5 percentage points compared to the September figure of 81.2%.
The Backlog of Orders Index registered 63.6%, 1.2 percentage points lower than the September reading of 64.8%.
The Employment Index registered 52%, 1.8 percentage points higher compared to the September reading of 50.2%.
The Supplier Deliveries Index registered 75.6%, up 2.2 percentage points from the September figure of 73.4%.
The Inventories Index registered 57%, 1.4 percentage points higher than the September reading of 55.6%.
The New Export Orders Index registered 54.6%, an increase of 1.2 percentage points compared to the September reading of 53.4%.
The Imports Index registered 49.1%, a 5.8-percentage point decrease from the September reading of 54.9%.
The 16 manufacturing industries reporting growth in October-in the following order-are apparel, leather & allied products; furniture & related products; textile mills; electrical equipment, appliances & components; machinery; printing & related support activities; food, beverage & tobacco products; computer & electronic products; chemical products; fabricated metal products; miscellaneous manufacturing; petroleum & coal products; plastics & rubber products; paper products; primary metals; and transportation equipment. The two industries reporting a decrease in October compared to September are wood products and nonmetallic mineral products.