NEWS DESK WHAT’S NEW IN MANUFACTURING n US Manufacturing Growth, Jobs Slowing U
S manufacturing barely grew in Septem- ber as the country’s industrial economy struggled to stay above water. The Insti- tute for Supply Management’s PMI was 50.2%, the index’s lowest level in the past 12 months. The September PMI is down from 51.1% the month before.
A level of 50% or more indicates US manu- facturing is expanding. The high point of the last 12 months was October 2014, when the PMI was 57.9%. The index has slowed since. The 12-month average for the PMI is 53.4% The index is based on information compiled
from purchasing and supply executives across the United States. “Comments from the panel are mixed with some concern about the global economy and customer confi dence,” Bradley J. Holcomb, chair of ISM’s Manufacturing Business Survey Commit- tee, said in a statement. Only seven of 18 industries reported economic growth in September, according to the institute. The gainers were printing and related support activities; textile mills; furniture and related products; food, beverage and tobacco products; miscellaneous manufacturing; paper products; and nonme- tallic mineral products. The industries reporting economic contraction included primary metals; petroleum and coal products; wood products; electrical equipment; machinery; fabricated metal products; plastics and rubber products; and transportation equipment. Other indexes from the institute reinforced the picture of a slowing manufacturing economy. The institute’s New Orders index fell to 50.1%, down from 51.7% in August. The Production index registered at 51.8%, down from 53.6% the month before. The Employment index stood at 50.5%, down from 51.2% the previous month. While growth has slowed, September was still the 33rd consecutive month with a PMI of 50% or better, according to the institute’s statement. — Senior Editor Bill Koenig
Employees at the FCA US Dundee Engine Plant in Michigan assemble
the Tigershark engine. The automotive sector remains a bright spot in US manufacturing, and reported job gains in September.
US Manufacturing Loses 9000 Jobs in September
I
n another indication that the business of making things is slowing, US manufacturers cut 9000 jobs in September, the Labor Department said in its monthly jobs report. Manufacturing jobs totaled 12.318 million on a seasonally adjusted basis last month, according to a breakdown of job activity by sector. That’s down from 12.327 million in August but more than the 12.214 million in September 2014. Manufacturing job losses during September were almost evenly split between durable and nondurable goods. Durable goods manufacturing lost 5000 jobs last month, while non- durable goods had 4000 fewer jobs. Within durable goods, major jobs losers included fabricated metals products (down 4500), machinery (down 3500) and computer and electronic products (down 2800).
Manufacturing sectors with job gains included
furniture and related products (3300 jobs added), wood products (2700) and motorized vehicles and parts (2100). Manufacturing jobs peaked in June 1979 (19.6 million
November 2015 |
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