Manufacturing contracted at slower pace in October
Manufacturing contracted in October, as the Institute for Supply Management's purchasing index registered 48.3 percent, an increase of 0.5 percentage point from the September reading of 47.8 percent.
“The PMI contracted for the third straight month, but at slower levels compared to September. This marks seven straight months of softening or contraction in manufacturing. All but one (New Export Orders) of the PMI subindexes registered at levels associated with contraction. Two of the six big industries expanded, and four contracted,” said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee.
A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
