NEWS DESK
A level above 50% indicates economic growth for manufacturing. August was the 32nd consecutive month of growth. The index has averaged 53.9% the past 12 months, with a high of 57.9% in October 2014. The index was affected by slowing growth for new orders,
production and manufacturing employment, the institute said in a statement.
“I characterize the year so far as modest growth,” Holcomb said in a telephone interview. “The year has not played out the way it was forecast to in December.” The index is based on a survey of supply management
professionals in various industries. Ten of 18 manufacturing industries reported growth in August, including textile mills, furniture and related products, paper products, miscellaneous manufacturing, fabricated metal products and machinery. Six industries reported economic contraction, including primary metals, electrical equipment and transportation equipment. The group’s New Orders index declined to 51.7% in August from 56.5% the month before. The Production index
slid to 53.6% from 56%. The Employment index declined to 51.2% from 52.7%.
—Senior Editor Bill Koenig
Rice Named No. 1 for Engineering Major Earnings Potential
R
ice University was ranked as the best school for an engineering major in terms of earnings potential in an
annual report. Rice engineering degree holders can expect median “early career” annual earnings of $72,500 and “mid- career” yearly pay of $145,000, according to PayScale. com, which compiles compensation data across industry lines as well as colleges and universities. Other schools in the top fi ve for engineering majors as ranked by PayScale were:
—Manhattan College ($60,900 and $140,000 respec- tively) at No. 2.
—Cooper Union for the Advancement of Science and Art
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AdvancedManufacturing.org | October 2015
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