Full Speed Ahead: Manufacturing Continues to Grow
Economic activity in the manufacturing sector expanded again in August, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The August PMI registered 61.3 percent, an increase of 3.2 percentage points from the July reading of 58.1 percent. PMI is an indicator of the economic health of the manufacturing sector; it's based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.