ISM Manufacturing Index Pulls Back but Remains Solid:
Nov 1, 2017
The October ISM Manufacturing index fell 2.1 points to 58.7, remaining at a strong level. The pullback was at least partially unwinding of a hurricane-induced jump in the September report. The supplier deliveries subcomponent, responsible for a significant portion of the September increase when deliveries were delayed due to the storms, dropped 3 points in October. Apart from the hurricane impact, the new orders subcomponent pulled back 1.2 points while the employment and new export orders subcomponents dropped 0.5 points. However, all three important indicators remained at very solid levels despite the pullbacks.