Monday, November 3, 2014

ISM Manufacturing Index Up for 17th Straight Month in October

The ISM manufacturing index rose to 59.0 for October, tying August for the highest level since early 2011. The index has been above its expansionary threshold of 50 for 17 months.

The details of the report were strong. The New Orders Index rose 5.8 points to 65.8 and the Inventory Index rose 1.0 point to 52.5. As a result, the gap between New Orders and Inventories - a proxy for future production – rose to 13.3 points. The Employment Index grew 0.9 point to 55.5.

The one area of weakness, the Export Orders Index, declined 2.0 points to 51.5. A slowdown in international demand has begun to impact exports, and will continue to trickle through other manufacturing indicators.

Read the ISM release.

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