Posted October 2, 2018

Manufacturing expands at slower pace in September

Manufacturing expanded in September at a slower rate than in August.

The Institute for Supply Management purchasing index registered 59.8 percent, a decrease of 1.5 percentage points from the August reading of 61.3 percent. “This indicates strong growth in manufacturing for the 25th consecutive month, led by strong production output, continued strength in new orders, improvements in supply chain delivery performance, and better utilization of existing inventory accounts,” 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.