Posted November 1, 2018

Manufacturing expansion slows in October

Manufacturing expanded in October as the PMI registered 57.7 percent, a decrease of 2.1 percentage points from the September reading of 59.8 percent.

“This indicates growth in manufacturing for the 26th consecutive month, led by moderately strong production output and continued supplier delivery performance issues,” said Tmothy Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee.

The New Orders Index registered 57.4 percent, a decrease of 4.4 percentage points from the September reading of 61.8 percent.

Comments from the panel reflect continued expanding business strength. Demand remains moderately strong, with the New Orders Index easing to below 60 percent for the first time since April 2017, the Customers’ Inventories Index remaining low but improving, and the Backlog of Orders Index remaining steady.