There might be lots of computers and televisions under Christmas trees next month, based on an October survey of the nation’s supply executives.
Manufacturing continued growing in October, but at a slower pace than September, according to the latest Manufacturing ISM Report On Business from the Institute for Supply Management.
Among eight factory segments with expanding activity, the top one was Computer & Electronic Products. It was followed by Petroleum & Coal Products; Food, Beverage & Tobacco Products; Nonmetallic Mineral Products; Primary Metals; Fabricated Metal Products; Paper Products; and Machinery.
The six industries reporting contraction in October, in order, are: Plastics & Rubber Products; Chemical Products; Apparel, Leather & Allied Products; Printing & Related Support Activities; Electrical Equipment, Appliances & Components; and Miscellaneous Manufacturing.
ISM also noted that while new orders, production and manufacturing employment grew in October, supplier deliveries slowed and inventories contracted.
“Comments from respondents are mixed, indicating positive relief from raw materials pricing and continuing strength in a few industries, but there is also more concern and caution about growth in this uncertain economy,” said Bradley Holcomb of ISM.