The Institute of Supply Management (ISM) Buffalo PMI fell over 30 points from 61.9 in July to 31.7 in August, the largest fall in over three years and the lowest reading in that period. The 31.7 reading indicates that manufacturing in our area contracted significantly. Buffalo-Niagara had been bucking the statewide manufacturing trend, as measured by the Empire State Manufacturing Survey, which has been negative in four of the last six months including its just-released September Survey. The latest National ISM Index reading for August was positive for the 32nd consecutive month, indicating expansion, but at a very modest rate. It is not clear how much of the change in the Buffalo Index might be attributable to recent stock market volatility, the continued strengthening of the U.S. dollar or other factors. Click to see the latest BuffaloISM_August2015 or the latest Empire State Manufacturing Survey
