Economy
October 3, 2017
ISM PMI Hits 60.8 in September
Written by Sandy Williams
Manufacturing expanded in the United States, along with the overall economy, as the Institute for Supply Management’s September PMI jumped 2 percentage points to register 60.8 percent. ISM’s New Orders Index gained 4.3 points. New orders have averaged 61.6 percent since December 2016, said Timothy R. Fiore, chairman of ISM’s Manufacturing Business Survey Committee. Any reading above 50 percent indicates growth.
“Production remains at strong growth levels in most industries, in spite of weather conditions and supplier delivery constraints experienced during the period,” said Fiore. The Order Backlog Index increased 0.5 points to 58 percent.
