November 2, 2009
Manufacturing Sector Shows Sustained Growth
By Matthew L. Brown
Economic activity in the manufacturing sector expanded for the third consecutive month in October, according to the Institute for Supply Management.
ISM's Purchasing Managers Index hit 55.7 percent in October compared to 52.6 percent in September. The sector's rate of growth was the highest it's been since April 2006.
ISM said that based on new orders and improvements in employment for manufacturers, the sector "is in a sustainable recovery mode."
Most of the 18 manufacturing industries tracked by ISM reported growth in October. Only the nonmetallic mineral products, primary metals and wood products industries reported contraction.
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