The significant increase in service activities in September was an encouraging surprise given the growing concerns over slowing growth. The Institute for Supply Management said on Thursday that its service sector index grew to 54.9 in September from 51.5 in August. That was the fastest pace of growth ... READ MORE >
Institute for Supply Management
Service sector extends growth in September
The service sector posted another steady month of growth in September as business activities rose at the fastest rate in three months, the Institute for Supply Management reported on Wednesday. Except for last December, the sector has expanded in 39 of the past 40 months, a key support for the economic ... READ MORE >
Manufacturing sentiment improves for the first time in nearly a year
The manufacturing sector in September expanded for the first time in 10 months on the heels of the strongest production growth since last summer, the Institute for Supply Management reported on Monday. We believe the sector has passed its bottom and is on an upward trend, given the tailwinds of higher ... READ MORE >
Preparing for a tsunami of imported goods
The recent reopening of China’s factory floors and the easing of its supply chain bottlenecks have prompted discussion about the ability of the U.S. supply chain to absorb what will be a tsunami of imported goods. With the value of the dollar rising, which lowers the cost of imported goods, demand for ... READ MORE >
Manufacturing sector grew steadily in May
The manufacturing sector expanded at the slightly faster rate in May as demand remained strong, according to data from the Institute for Supply Management on Wednesday. The data will help alleviate some of the concern over an imminent recession as our recent RSM US Manufacturing Outlook Index dipped ... READ MORE >
Chart of the day: Service sector grew at slower pace in December
The purchasing managers’ index for the service sector grew at a much slower rate in December as supply chain delays continued to put a drag on service activities, according to a report Thursday from the Institute for Supply Management. The slower rate of growth will most likely persist given that the ... READ MORE >
Chart of the day: Service sector grew at record pace
The Services Purchasing Managers’ Index hit a record high in October at 66.7%, 4.8 percentage points higher than in September, confirming the recent shift in consumption from goods to services that will last until the end of the year. A reading above 49.2% indicates expansion. The surging overall ... READ MORE >
Chart of the day: U.S. manufacturing remained strong in October
The U.S. manufacturing sector continued to expand in October as growth remained positive despite supply chain constraints. The Purchasing Managers' Index inched down to 60.8 from 61.1 in September, but still posted the 17th straight month of expansion since April 2020, according to a report from ... READ MORE >
CHART OF THE DAY: Manufacturers wrestle with disruptions, shortages and rising prices
Manufacturing growth eased from its breakneck pace in April as supply chain bottlenecks and material shortages increase backlogs and limit production efforts. The Institute for Supply Management’s manufacturing index eased to 60.7 in April from a 38-year high of 64.7 in March. Readings above 50 indicate ... READ MORE >
CHART OF THE DAY: U.S. manufacturing expanded at fastest pace since 2018, ISM reports
American manufacturing activity continued its six-month expansion in October, according to Institute for Supply Management data released on Monday, with 15 of the 18 manufacturing industries included in the data reporting growth. October marked the fastest pace of manufacturing expansion in the ... READ MORE >