Economic activity in the manufacturing sector nationally expanded in October for the 17th consecutive month, and the overall economy grew for the 65th consecutive month, say the nation’s supply executives in a Manufacturing Institute for Supply Management (ISM) Report on Business.
The report was issued by Bradley J. Holcomb, chair of the (ISM) Manufacturing Business Survey Committee.
Comments from the panel, Holcomb said, generally cited positive business conditions, with growth in demand and production volumes.
Of the 18 manufacturing industries, 16 were reporting growth in October in the following order: Plastics and Rubber Products; Textile Mills; Fabricated Metal Products; Miscellaneous Manufacturing; Primary Metals; Electrical Equipment, Appliances and Components; Nonmetallic Mineral Products; Food, Beverage and Tobacco Products; Chemical Products; Apparel, Leather and Allied Products; Printing and Related Support Activities; Transportation Equipment; Furniture and Related Products; Paper Products; Machinery; and Computer and Electronic Products.
The only industry reporting contraction in October was Petroleum and Coal Products.