TEMPE, AZ – Economic activity in the manufacturing sector expanded in September for the eighth consecutive month, while the overall economy grew for the 71st consecutive month, reports ISM.
 
Manufacturing grew at a slower rate in September, as the PMI registered 52%, down 0.9 points from August, says ISM. New orders registered 53.4%, down 1.9 points sequentially. Production dipped to 54.6%, 1.5 points lower. Manufacturers’ inventories registered 41.6%, a decrease of 3.8 points. Customers’ inventories were 50%, up 1 point. Backlogs reached 51%, 0.5 points higher sequentially, the firm reports.
 
ISM spokesman Norbert J. Ore said, “Manufacturing growth continued in September, while some sectors of the economy are apparently struggling. The trend is toward slower growth in manufacturing, as the rate of growth in both new orders and production slowed. The sector is apparently in excellent shape with regard to inventories, as the inventories index fell to 41.6%, indicating significant inventory liquidation. Overall, September looks like a good month for manufacturing.”

WASHINGTON – Responding to the growing shortage of engineers, Congressman Emanuel Cleaver (D-MO) in September introduced the Strategic Technology/Engineering Program (STEP) Act of 2007 – “GI Bill style” legislation that provides incentives for young people entering the engineering profession.

The bill, H.R. 3634, creates new scholarships and loan forgiveness for engineering students working toward their P.E. license.

“Our nation needs to make much more efficient use of the available resources by recruiting students from our best and brightest high school graduates and encourage them to go on to college to become our next generation of engineers,” Cleaver said in a statement. “This legislation will help support engineering students as they complete an education for an industry that will always be in demand.”

The number of U.S. engineering graduates has steadily declined in the last two decades, according to the National Science Foundation. In addition, over 25% of the science and engineering workforce is older than 50 and expected to retire over the next 15 years.