Purchasing Managers' Index Rose to 59.3% in September
Tempe, AZ, November 2, 2020-The October Manufacturing Purchasing Managers’ Index (PMI) registered 59.3%, up 3.9 percentage points from the September reading of 55.4% and the highest since September 2018 (59.3%), according to the Manufacturing ISM Report On Business.
This figure indicates expansion in the overall economy for the sixth month in a row after a contraction in April, which ended a period of 131 consecutive months of growth.
The New Orders Index registered 67.9%, an increase of 7.7 percentage points from the September reading of 60.2%.
The Production Index registered 63%, an increase of 2 percentage points compared to the September reading of 61%.
The Backlog of Orders Index registered 55.7%, 0.5 percentage point higher compared to the September reading of 55.2%.
The Employment Index registered 53.2%, an increase of 3.6 percentage points from the September reading of 49.6%.
The Supplier Deliveries Index registered 60.5%, up 1.5 percentage points from the September figure of 59%.
The Inventories Index registered 51.9%; 4.8 percentage points higher than the September reading of 47.1%.
The Prices Index registered 65.5%, up 2.7 percentage points compared to the September reading of 62.8%.
The New Export Orders Index registered 55.7%; an increase of 1.4 percentage points compared to the September reading of 54.3%.
The Imports Index registered 58.1%, a 4.1-percentage point increase from the September reading of 54%.
Of the 18 manufacturing industries, 15 reported growth in October, in the following order: apparel, leather & allied products; fabricated metal products; nonmetallic mineral products; food, beverage & tobacco products; plastics & rubber products; machinery; furniture & related products; paper products; wood products; chemical products; primary metals; computer & electronic products; transportation equipment; electrical equipment, appliances & components; and miscellaneous manufacturing. The two industries reporting contraction in October are textile mills and printing & related support activities.