Purchasing Managers’ Index show strong manufacturing growth in October
Posted By:
Tom Sanderson
Date Posted:
Wednesday, November 10, 2010
10:32 AM
The Institute of Supply Management reported that the Purchasing Managers' Index (PMI) increased from 54.4 in September to 56.9 in October. This represents 15 consecutive months of growth. A PMI over 50 indicates growth while a PMI under 50 indicates contraction in the manufacturing sector of the economy. The index reached a low of 32.5 in December 2008 but then recovered more quickly than other areas of the economy and remains one of the brighter spots in the economy today. The vertical bars in the graph represent recessions.
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ISM manufacturing index