United States PMI October 2016

United States

United States: U.S. manufacturing advances to three-month high

November 1, 2016

The ISM manufacturing index advanced slightly in October, signaling a modest expansion in the U.S. manufacturing sector. The indicator edged up from 51.5 in September to 51.9 in October and also beat market expectations of 51.7. The result brought the ISM index further above the 50-threshold that indicates an expansion.

The composition of the report was mixed. While new orders decreased over the previous months, manufacturing production reached a three-month high. Furthermore, employment improved substantially, reaching a 16-month high in October. Supplier delivery times also improved, while inventory levels declined further below 50.

FocusEconomics Consensus Forecast panelists expect that industrial production will contract 0.5% in 2016, which is up 0.3 percentage points from last month’s forecast. For 2017, panelists see industrial production rebounding and expanding 1.8%, which is down 0.1 percentage points from last month’s estimate.


Author:, Senior Economist

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USA PMI October 2016

Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.
Source: Institute for Supply Management.


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