Coronavirus/Covid-19 Information & Updates for Manufacturers

American Manufacturing Recovery Continues

The Institute for Supply Management’s closely watched PMI Index published today indicated continued expansion in U.S. manufacturing.  The PMI registered 57.5, down -1.8 from last month, but still the second-highest level in two years (a reading over 50 indicates growth).  According to ISM, “manufacturing performed well for the sixth straight month, with demand, consumption and inputs registering growth, but at slower rates compared to October. Labor market difficulties, both current and anticipated, … will continue to dampen the manufacturing economy until the coronavirus (COVID-19) crisis ends.”  In all, 16 of 18 manufacturing sectors reported growth, including Fabricated Metal Products, Chemical Products and Food, Beverage & Tobacco Products which are all prominent in WNY.  See the full report here.

 

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