The April 2013 ISM Manufacturing Survey shows PMI slid by -0.6 percentage points to 50.7%. This is expansion but much slower. Expansion has occurred for the 5th month in a row., although this is the lowest PMI of 2013. Overall the report implies a stagnant manufacturing sector, ho hum, and not much to write home about.
The March 2013 ISM Manufacturing Survey shows PMI decreased by -2.9 percentage points to 51.3% and is in expansion for the 4th month in a row. New orders as well as production declined significantly from last month and show a slower growth manufacturing sector. March's Manufacturing survey shows inventories contracted as well.
The February 2013 ISM Manufacturing Survey shows PMI increased by 1.1 percentage points to 54.2% and is in expansion for the 3rd month in a row. This is the 5th time in nine months manufacturing PMI has been in expansion and the highest manufacturing PMI since June 2011. Overall the report is solid manufacturing expansion and a pleasant surprise considering U.S. politics.
The Durable Goods advance report shows new orders declined by -5.2% for January 2013. But that's not the real story as Defense new orders plunged the most since January 2009. Without defense, durable goods new orders the January decline would have been just -0.4%.
The January 2012 ISM Manufacturing Survey shows PMI increased by 2.9 percentage points to 53.1% and is in expansion for the 2nd month in a row. This is the 4th time in eight months manufacturing PMI has been in expansion. Overall the report is actually modest expansion, although all five indexes which make up PMI were on the positive side.
The December 2012 ISM Manufacturing Survey shows PMI increased by 1.2 percentage points to 50.7% and is now in expansion from contraction. This is the 3rd time in seven months manufacturing PMI has been in expansion. Overall the report is a bounce from last month's lows.
The November 2012 ISM Manufacturing Survey PMI decreased, -2.2 percentage points, to 49.5% and and is now in contraction. This is the 4th time in six months manufacturing PMI has contracted. PMI hasn't been this low since July 2009's 49.2% PMI and the employment index contracted to September 2009 levels.
The October 2012 ISM Manufacturing Survey PMI increased, 0.2 percentage points, to 51.7% and and is the second month for expansion. Officially manufacturing expanded at a faster rate, yet the low percentage change implies manufacturing is really holding on.
The Manufacturers' Shipments, Inventories, and Orders report shows factory new orders plunged -5.2% for August 2012. This Census statistical release is called Factory Orders by the press and covers both durable and non-durable manufacturing orders, shipments and inventories. This is the largest monthly drop since January 2009, although July showed a 2.6% increase.
The September 2012 ISM Manufacturing Survey PMI increased, 1.9 percentage points, to 51.5% and moved into expansion. This is welcome news for the ISM manufacturing survey showed contraction for the previous three months. One of the survey respondents called the previous manufacturing slowdown a summer thing, let's hope they are right.
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