The September 2018 PMI Index from the Institute for Supply Management registered a strong 59.3, albeit down 1.5 points from a 14+ year high last month (a reading above 50 indicates expansion). While New Orders, Backlog of Orders, Supplier Deliveries and Prices pulled back, Production, New Exports and Imports all grew faster than in August. Tariffs continued to be a major focus of survey respondents:
- “The market is in a state of chaos with the latest round of tariffs.” (Computer & Electronic Products)
- “Tariffs starting to take a bite out of profitability.” (Chemical Products)
- “Tariffs are putting pressure on Chinese imports.” (Furniture & Related Products)
- “…starting to see a decline for steel prices for December.” (Fabricated Metal Products)
- “Tariffs are creating a drag on some of our export opportunities.” (Plastics & Rubber Products)
See the full report here.
