U.S. Manufacturing Sector Losing Momentum, NAPM Says

Jan. 13, 2005
For the third consecutive month the U.S. manufacturing sector failed to grow, according to the National Assn. of Purchasing Management's (NAPM) Report on Business. "Manufacturing is feeling the effect of higher interest rates, higher energy prices, and ...

For the third consecutive month the U.S. manufacturing sector failed to grow, according to the National Assn. of Purchasing Management's (NAPM) Report on Business. "Manufacturing is feeling the effect of higher interest rates, higher energy prices, and the strong dollar," explains Norbert J. Ore, chair of NAPM. "Though prices still remain firm in most markets, with the exception of some metals, the manufacturing sector in general appears to be losing momentum faster than the overall economy." Indeed, NAPM's Purchasing Managers' Index was 48.3% in October, a decrease of 1.6 percentage points from 49.9% in September. NAPM's Production Index decreased 3.7 percentage points from 52.1% in September to 48.4% in October. NAPM's New Orders Index declined 1.1 percentage points from 49.1% in September to 48% in October. NAPM's Backlog of Orders Index registered 41%, indicating smaller backlogs for the sixth consecutive month. NAPM's Supplier Deliveries Index is 51.4% in October, indicating slower deliveries during the month. Of the 20 industries in the manufacturing sector, only seven reported improved business in October. Industries that reported improvement over September were (listed in order): Wood & Wood Products; Food; Furniture; Glass, Stone & Aggregate; Chemicals; Electronic Components & Equipment; and Apparel.

Popular Sponsored Recommendations

Learn How Manufacturers like 3M Cater to Digital Buyers to Increase Sales

Aug. 13, 2023
In this article, you'll learn how manufacturers can balance educating and guiding their buyers through their complex buying process with a digital first approach to product discovery...

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!