ISM index remains in positive territory
Manufacturing activity expanded in October for the second consecutive month following three months of slight contraction.
The latest Manufacturing ISM Report On Business showed the PMI registered 51.7 percent, an increase of 0.2 percentage point compared to September's reading of 51.5 percent. 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 this month reflect continued concern over a fragile global economy and soft orders across several manufacturing sectors," said Bradley J. Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee.
ISM's New Orders Index registered 54.2 percent in October, which is an increase of 1.9 percentage points when compared to the September reading of 52.3 percent. This represents the second consecutive month of growth in new orders following three consecutive months of contraction.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
