The Institute of Supply Management’s Manufacturing Activity Index fell to 53.5 in May from 60.4. This shows the pace of manufacturing activity moderating since the index reached a 7 year high of 61.2 in March. Add to it a decline in Conference Board’s Consumer Confidence Index from 66 in April to a 6 month low of 60.8 in May and the signs of a slowing economy are becoming very clear.
Tag Archives: ISM
Auto Sales
We saw auto sales shoot up 6.7% to 13.4 million units (at an annual rate), the best level since August ‘09, and we also saw the ISM inch higher to 61.4 from 60.8 with the “internals” of the report just as solid as the headline But even with incentives running wild, auto sales are still nowhere near the 16-18 million unit pre-credit-bubble norm. even with the subprime market for auto loans improving.
ISM reports growth!
The monthly Institute of Supply Management Report on Business (ISM) is a survey based index of more than 300 manufacturing firms that tracks 11 dimensions of activity across 18 Industries. Readings below 50 indicate recession. Value above 50 indicate growth. The index ranges from 0 to 100. The Jan ISM rose to 60.8 (it’s highest level since May ’04), & 14 of 18 industries reported growth!