# Manufacturing ISM for March 2011 - 61.2%

The March 2011 ISM Manufacturing Survey was released April 1st. PMI dropped slightly to 61.2%, from a strong 61.4% in February, when the factory index and it's highest level since May 2004. This is the 3rd month for the manufacturing index to be above 60%.

# Manufacturing ISM for January 2011 - 60.8%

The January 2011 ISM Manufacturing Survey is out and PMI came in at booming 60.8%. December 2010 manufacturing ISM was revised to 58.5% from 57% originally reported. This is a +2.3% jump in the factory index, or PMI, the overall manufacturing ISM index and it's highest level since May 2004.

# Manufacturing ISM for November 2010 - 56.6%

The November 2010 ISM Manufacturing Survey is out and PMI came in at 56.6%. October 2010 manufacturing ISM was 56.9%. This is a -0.3% decrease in the factory index. While this is the 16th month for expansion (anything above 50 is an expansion), this is another flat line on the manufacturing ISM.

# Manufacturing ISM for October 2010 - 56.9%

The October 2010 ISM Manufacturing Survey is out and PMI came in at 56.9%. September 2010 manufacturing ISM was 54.4%. This is a +2.6% increase in the factory index. While this is the 15th month for expansion (anything above 50 is an expansion), this is the first acceleration on the manufacturing ISM since April 2010.

# Manufacturing ISM for July 2010 - 55.5%

The July 2010 ISM Manufacturing Survey is out and PMI came in at 55.5%. Last month's manufacturing ISM was 56.2%. June ISM manufacturing index declined -3.5% from May's 59.7%. While this is the 12th month for expansion (anything above 50 is an expansion), this is a slowing on the manufacturing ISM.

# Manufacturing ISM for June 2010 - 56.2%

The June 2010 ISM Manufacturing Survey is out and PMI came in at 56.2%. This is a decline of -3.5% from last month's 59.7%. While this is the 11th month for expansion (anything above 50 is an expansion), this is a slowing on the manufacturing ISM. Why is this important? There is a relationship to overall GDP growth. The below GDP correlation numbers are annual. Taken to quarterly, the PMI correlation implies rough 2.2% Q2 2010 GDP. A correlation is not a fact so take this number with a wet thumb in the air.
($Q_i = ((Q_a + 1)^{-4})Q_{i-1}$)

The past relationship between the PMI and the overall economy indicates that the average PMI for January through June (58.5 percent) corresponds to a 5.5 percent increase in real gross domestic product (GDP). In addition, if the PMI for June (56.2 percent) is annualized, it corresponds to a 4.8 percent increase in real GDP annually.

# Manufacturing ISM for May 2010 - 59.7%

The May 2010 ISM Manufacturing Survey is out and PMI came in at 59.7%. This is the 10th consecutive month for expansion. Why is this important? There is a relationship to overall GDP growth.