The October 2011 ISM Manufacturing Surveydecreased -0.8 percentage points to 50.8% PMI. While still considered expansion, this is a slowdown from last month. Below is the manufacturing composite index, PMI, still around 2008 levels.
The September 2011 ISM Manufacturing Surveyincreased 1.0 percentage points to 51.6%. This is a pleasant surprise. While a 51.6% PMI isn't anything to write home about, it is an increase and indicates manufacturing expansion. Below is the manufacturing composite index, PMI, still around 2008 levels.
New Orders in Durable Goods jumped to an astounding 4.0% for July 2011. New Orders has declined the last two months out of four. June durable goods new orders were revised from -2.1% to a -1.3% decrease. But wait.....sorry to pop your balloon....
The Philly Fed Survey current business activity index plunged -30.7% for August. The below graph is the Philadelphia Fed Current Business Activity Index against Industrial Production, the national manufacturing and output indicator, released by the Fed.
New Orders in Durable Goods decreased -2.1% for June 2011. New Orders has declined the last two months out of three.
Core capital goods new orders decreased -0.4%, after gaining 1.7% last month. Core capital goods is an investment gauge for the bet the private sector is placing on America's future economic growth.
New Orders in Durable Goods increased +1.9% for May 2011. April was significantly revised to -2.7% from -3.6%.
Core capital goods new orders increased +1.6%, after declining -0.8% last month. Core capital goods is an investment gauge for the bet the private sector is placing on America's future economic growth.
The May 2011 ISM Manufacturing Survey has some bad news. PMI plunged -6.9 percent points to 53.5%, from 60.4% in April. This is the lowest PMI since September 2009. PMI dropped 11.4% by percentages and this is worse than October 2008.
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