October Manufacturing ISM Report On Business®; PMI at 50.8%; New Orders, Production and Employment Growing; Supplier Deliveries Slowing; Inventories Contracting

Prices(c)

The ISM Prices Index registered 41 percent in October, 15 percentage points lower than the 56 percent reported in September. This is the sixth consecutive month the Prices Index has registered below 80 percent since December 2010, and is the first month of contraction since May 2009 when the index registered 43.5 percent. The last time the Prices Index decreased more than 15 percentage points was in June 2010, when it registered 57 percent compared to the prior month’s reading of 77.5 percent. In October, 14 percent of respondents reported paying higher prices, 32 percent reported paying lower prices and 54 percent of supply executives reported paying the same prices as in September. A Prices Index above 49.4 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) Index of Manufacturers Prices.

Of the 18 manufacturing industries, only two report paying increased prices during the month of October: Furniture & Related Products; and Computer & Electronic Products. The 13 industries reporting paying lower prices on average during the month of October — listed in order — are: Plastics & Rubber Products; Primary Metals; Electrical Equipment, Appliances & Components; Apparel, Leather & Allied Products; Transportation Equipment; Food, Beverage & Tobacco Products; Machinery; Petroleum & Coal Products; Printing & Related Support Activities; Chemical Products; Paper Products; Miscellaneous Manufacturing; and Fabricated Metal Products.

Prices           %Higher         %Same         %Lower         Net         Index
 
Oct 2011 14 54 32 -18 41.0
Sep 2011 26 60 14 +12 56.0
Aug 2011 29 53 18 +11 55.5
Jul 2011 35 48 17 +18 59.0

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