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US Mfg Activity Slows in August

Published: 05 September 2012
 by Staff

ARLINGTON, VA -- US manufacturing activity contracted in August for the third time since July 2009 despite growth in the overall economy.

The report, issued today by the Institute for Supply Management, found the PMI index fell 20 basis points to 49.6% from July, indicating contraction in the manufacturing sector for the third consecutive month.

It was the lowest reading for the PMI since July 2009.

The New Orders Index fell 90 basis points to 47.1%, indicating contraction in new orders for the third consecutive month. The Production Index was 47.2%, down 4.1 percentage points and indicating contraction in production for the first time since May 2009. The Employment Index remained in growth territory at 51.6%, but registered its lowest reading since November 2009 (51%). The Prices Index increased 14.5 percentage points from July to 54%.

Of the 18 manufacturing industries, Computer & Electronic Products was among those reporting contraction for the month.

Manufacturing at a Glance, August 2012


Index		 Series
Index
Aug		 Series
Index
Jul		 Percentage
Point
Change

Direction		 Rate
of
Change
Trend*
(Months)
PMI 49.6 49.8 -0.2 Contracting Faster 3
New Orders 47.1 48.0 -0.9 Contracting Faster 3
Production 47.2 51.3 -4.1 Contracting From Growing 1
Employment 51.6 52.0 -0.4 Growing Slower 35
Supplier Deliveries 49.3 48.7 +0.6 Faster Slower 7
Inventories 53.0 49.0 +4.0 Growing From Contracting 1
Customers' Inventories 49.0 49.5 -0.5 Too Low Faster 9
Prices 54.0 39.5 +14.5 Increasing From Decreasing 1
Backlog of Orders 42.5 43.0 -0.5 Contracting Faster 5
Exports 47.0 46.5 +0.5 Contracting Slower 3
Imports 49.0 50.5 -1.5 Contracting From Growing 1







OVERALL ECONOMY Growing Slower 39
Manufacturing Sector Contracting Faster 3
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