Report: Manufacturing had good September
The U.S. manufacturing sector experienced modest growth in September, the Institute for Supply Management reported Monday.
The Institute, a private research group based in Tempe, Ariz., said manufacturing economic activity expanded for the eighth consecutive month, while the overall economy grew for the 71st consecutive month.
"Manufacturing growth continued in September while some sectors of the economy are apparently struggling," reported Norbert J. Ore, chair for the institute's Manufacturing Business Survey committee. "The sector is apparently in excellent shape" regarding inventories, which showed significant inventory liquidation, the employment index, which increased slightly in September.
"Overall, September looks like a good month for manufacturing," Ore said.
Manufacturing grew at a slower rate in September, registering 52 percent, a drop of 0.9 percentage point compared to August's reading of 52.9 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding, the institute said.
// Copyright 2007 by United Press International
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