Friday, October 01, 2010

ISM Manufacturing Report on Business: September 2010

Today, the Institute for Supply Management released their latest Report on Business for the manufacturing sector indicating that economic activity continued to expand but at a slowest pace seen since November 2009.

At 54.4 the purchasing manager’s composite index (PMI) declined 3.73% since August remaining just 3.82% above the level seen a year earlier.

It’s important to note that 7 of the 11 indicators cited in the report showed slowing growth since August while the “backlog of order” component actually contracted.