Recent History Of This Indicator:{
PMI manufacturing accelerated sharply in October's flash, up 1.5 points to a solid 54.5 and an 8-month high. New orders and employment were highlights while delivery delays, tied to Hurricanes Harvey and Irma, gave perhaps a one-time boost to the composite index. Forecasters see no change for final October with the consensus at 54.5.
PMI manufacturing accelerated sharply in October's flash, up 1.5 points to a solid 54.5 and an 8-month high. New orders and employment were highlights while delivery delays, tied to Hurricanes Harvey and Irma, gave perhaps a one-time boost to the composite index. Forecasters see no change for final October with the consensus at 54.5.
...meanwhile...
ISM
manufacturing's sample reports only slight cooling, at a still
unusually strong composite of 58.7 in October vs September's 13-year
high of 60.8. New orders remain the stand-out positive in the report, at
63.4 for only a 1.2 percent dip from September's 4-year high at 64.6.
Export orders, like those in this morning's earlier PMI manufacturing
report, are a strong positive. Employment is also unusually strong, at
59.8 and only 5 tenths lower from the 6-1/2 year high in the last
report.
Delivery times, delayed by hurricane effects, continue to lengthen but to a slightly lesser degree which points at improvement. Pulling down the composite are inventories of raw materials which contracted in the month in what likely reflects delivery delays. Input costs remain very elevated, again another hurricane effect.
Backlog orders continue to build and production continues to hum along. But production in the Federal Reserve industrial production report has yet to show anywhere near the strength of the production reading in this report -- at least not yet. With durable goods orders posting two straight strong months, the signals from private data like today's report are growing more convincing.
Delivery times, delayed by hurricane effects, continue to lengthen but to a slightly lesser degree which points at improvement. Pulling down the composite are inventories of raw materials which contracted in the month in what likely reflects delivery delays. Input costs remain very elevated, again another hurricane effect.
Backlog orders continue to build and production continues to hum along. But production in the Federal Reserve industrial production report has yet to show anywhere near the strength of the production reading in this report -- at least not yet. With durable goods orders posting two straight strong months, the signals from private data like today's report are growing more convincing.
Recent History Of This Indicator:
The ISM manufacturing index has been surging this year, beating Econoday's consensus for 5 straight months and often, as in September, by very wide margins. September's 60.8 marked a 13-year best though hurricane-related delivery delays did skew the score higher. Yet strength has been very evident with new orders at a 4-year high and employment at a 6-1/2 year high. The Econoday consensus for October calls for cooling, to 59.5.
The ISM manufacturing index has been surging this year, beating Econoday's consensus for 5 straight months and often, as in September, by very wide margins. September's 60.8 marked a 13-year best though hurricane-related delivery delays did skew the score higher. Yet strength has been very evident with new orders at a 4-year high and employment at a 6-1/2 year high. The Econoday consensus for October calls for cooling, to 59.5.
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