February 2018

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index got off to a strong start in 2018, climbing 3.9 points in January to 59.9, besting analyst’s expectations. The strong advance in the index points to continued growth in the nonmanufacturing segment as the fundamentals remain strong for the sector. The ISM nonmanufacturing survey measures the rate [...]

ISM Manufacturing Index

The January Purchasers Manager’s Index fell-back 0.6 point month on month, (m/m) to 59.1, lower than December’s revised 59.7, but still topping analysts’ expectations. The index has been greater than 50, (>50 = expansion) for 17 consecutive months. The new orders sub-index scored a 64.5, its eighth month in a row over 60. Conditions are [...]

January 2018

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index fell-back 2.7 points in December to 55.9, its second decline in as many months. Despite the decline in November and December, the index represents continued growth in the nonmanufacturing segment as the fundamentals remain strong for the nonmanufacturing sector, which accounts for 88% of GDP. For the [...]

December 2017

U.S. Manufacturing Capacity Utilization

Manufacturing capacity utilization (MCU), scored a 76.4% in November, up 0.12% month on month, (m/m), its third consecutive monthly increase. On a year on year (y/y) comparison the MCU was up 2.2%. Manufacturing fundamentals continue to improve. Both the U.S. and global economy are strengthening and at the same time, the dollar has depreciated against [...]

U.S. Industrial Production

Industrial production moved-up 0.2% in November, month on month, (m/m) a bit shy of analyst’s consensus forecast, but its third consecutive monthly increase. Overall capacity utilization as well as manufacturing each gained 0.1 percentage point for the month. Another encouraging note was that the top line for October was revised up from 0.9% to 1.2%. [...]

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index fell-back 2.7 points in November to 57.4, falling short of analysts’ expectations. Last month the index rose to its highest level since October 2003. Despite the decline in November, the index represents continued growth in the nonmanufacturing segment as the fundamentals continue to be supportive for nonmanufacturing, [...]

November 2017

U.S. Manufacturing Capacity Utilization

Manufacturing capacity utilization advanced by 0.9 index points to reach its highest level since June 2008. Capacity utilization for manufacturing was 76.4% in October, a rate that is 2.0 percentage points below its long-run average. Utilization for durables increased 0.2 percentage point to 75.7%, while the rate for nondurables rose 1.7 percentage points to 78.1%. The operating rate [...]

U.S. Industrial Production

Industrial production moved-up 0.9% in October, month on month, (m/m) besting analyst’s consensus forecast. This was the strongest monthly gain since April of this year. Production was broad based, manufacturing production also recorded its best gain since April, surging 1.3% m/m as capacity utilization advanced 0.6%. Industrial production is a pure measure of output, untainted [...]