Report points to slower growth in US manufacturing
September 2nd, 2011 - 11:52 am ICT by IANSNew York, Sep 2 (IANS/EFE) The US manufacturing sector grew in August for the 25th consecutive month, but the pace of expansion was the slowest since July 2009, the Institute for Supply Management said Thursday.
The ISM’s Purchasing Managers’ Index, or PMI, came in at 50.6 points, down from 50.9 in July, and the lowest reading since the 49 percent registered in July 2009.
Even so, the August PMI figure was better than expected by analysts, who had feared the index would dip below 50, the dividing line between growth and contraction.
“The overall sentiment is one of concern and caution over the domestic and international economic environment, which is affecting customers’ confidence and willingness to place orders, at least in the short term,” Bradley J. Holcomb, chair of the ISM Manufacturing Business Survey Committee, said in a statement.
The sub-index measuring production slipped 3.7 points to 48.6, its first decline in 27 months and weakest performance in more than two years.
August marked the fourth straight month when the rate of price increases in the manufacturing sector decreased, falling 3.5 points to 55.5.
ISM’s Employment Index stood at 51.8 points, off 1.7 from July, yet strong enough to maintain a nearly two-year-long run of continuous growth.
–IANS/EFE
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- US manufacturing slows - Aug 02, 2011
- Growth of US manufacturing sector slows - Nov 02, 2011
- Growth slows in US service sector - Dec 06, 2011
- US manufacturing remains healthy - May 03, 2011
- China's non-manufacturing sector slows in April (Lead) - May 03, 2012
- US service sector grows at slowest pace in 18 months - Aug 04, 2011
- China's Purchasing Managers' Index falls in November - Dec 01, 2011
- China's Purchasing Managers Index rises in February (Lead) - Mar 01, 2012
- China manufacturing expands in April (Lead) - May 01, 2012
- China's non-manufacturing sector growth slows in August - Sep 03, 2011
- China's Purchasing Managers Index rises in January (Lead) - Feb 01, 2012
- US manufacturing sector slows pace - Mar 02, 2012
- US manufacturing sector slows pace in February - Mar 02, 2012
- New Zealand service sector struggling to expand - Jan 30, 2012
- China's non-manufacturing sector growth slows - Nov 03, 2011
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