According to information published in the recently released Manufacturing ISM Report on Business, economic activity in the United States’ manufacturing sector expanded for the 33rd straight month in the period of time ending in September, 2015. During the same month, the overall economy of the country grew for the 76th month in a row. These expansions are attributed to a wide range of factors, most of which are incredibly positive.
The report, as always, was issued by Bradley J. Holcomb, the chair of the Institute for Supply Management Manufacturing Business Survey Committee. Mr. Holcomb indicated that the September PMI registered at 50.2 percent, which was a decrease of just under a single percentage point from the reading that was obtained in August. The New Orders Index came in at 50.1 percent, which itself represented a decrease of just over 1.5 percent from the same reading in August.
Out of the 18 different industries that make up the manufacturing sector in the United States, a full seven of them reported growth in the period ending in September. These industries included but were not limited to Printing & Related Support Activities, Beverage & Tobacco Products, Paper Products, Nonmetallic Mineral Products and more. Out of the 11 industries that reported some type of a contraction during September, the list included Leather & Allied Products, Machinery, Computer & Electronic Products, Chemical Products and more.
According to a respondent from the Petroleum & Coal Products industry, revenues and profits across the board were being impacted by the low prices of both crude oil and gas in the country. Chemical Products respondents, on the other hand, indicated that business across North America was steady. Despite this, international business was trending a bit on the bearish side.
Transportation Equipment respondents indicated that overall, business was definitely showing signs of slowing down. They indicated that consumers were getting nervous about various economic activities and they were ultimately not sure what they could expect next as far as growth and contraction were concerned. Computer & Electronics Products respondents seemed to ultimately agree with that particular assessment.