ISM Reports Manufacturing Contraction

By Toby Weber, Contributing Editor -- Foodservice Equipment & Supplies, 10/6/2008 1:29:00 PM

The Institute for Supply Management’s Purchasing Managers’ Index for September showed the manufacturing sector shrinking at an accelerated rate vs. August.

The PMI registered a level of 43.5 in September, down by 6.4 points vs. August. A PMI of less than 50 indicates contraction in the domestic manufacturing economy. A lower number signals greater contraction.

Almost all of the PMI’s component indices declined in September, as well, including the New Orders, Production, Employment, Inventories, Customers’ Inventories, Prices, Backlog of Orders, Exports and Imports Indices.

To view the complete August report on manufacturing from the Institute for Supply Management, click here. The October report will be available on Nov. 1.

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