For the sixteenth consecutive month, September 2014 marked a significant expansion in economic activity in the manufacturing sector. September also marked an expansion in the overall economy for the 64th consecutive month, according to information obtained from supply executives in the United States and reported by Manufacturing ISM "Report on Business."
The September PMI registered 56.6 percent, which was itself a decrease of 2.4 percentage points over the August reading of 59 percent. These numbers indicate a continued expansion across the manufacturing sector.
The New Orders Index registered 60 percent, which was a decrease of 6.7 percent from the reading take in August. This represented a growth in new orders. The Production Index registered at 64.6 percent, while the Employment Index registered at 54.6 percent. Inventories of raw materials were also on the rise, registering at 51.5 percent. This represented a growth in inventories for the second consecutive month this year.
15 different industries across the manufacturing sector registered some type of growth in September. These included but were not limited to apparel, leather and allied products, nonmetallic mineral products, furniture and related products, paper products, chemical products, textile mills and more. Despite this, there were three industries that reported a contraction during the same period of time: appliances and components, electrical equipment and plastics and rubber products.
Read the full report here: September 2014 Manufacturing ISM® Report On Business®