Manufacturing expanded in August
Manufacturing expanded in August as the Insitute for Supply Management purchasing index registered 61.3 percent, an increase of 3.2 percentage points from the July reading of 58.1 percent.
“This indicates strong growth in manufacturing for the 24th consecutive month, led by continued expansion in all subindexes that make up the PMI. The PMI reached its highest level since May 2004, when it registered 61.4 percent,” 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.
Comments from the panel reflect continued expanding business strength. Demand remains strong, with the New Orders Index at 60 percent or above for the 16th straight month, and the Customers’ Inventories Index remaining low.
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.
