Manufacturing Growth Slows to Lowest Level Since March

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November 1, 2007

Manufacturing Growth Slows to Lowest Level Since March

Economic activity in the manufacturing sector expanded in October, say the nation's supply executives in the latest Manufacturing ISM Report On Business.

However, manufacturing growth slowed to its lowest level since March 2007. While the New Orders Index continued to grow and the Production Index fell below 50 for the first time since January 2007, the Employment Index grew slightly, signaling continuing strength in manufacturing employment.

It does appear that the impact of the slowdown in the financial, housing and transportation segments has spilled over into manufacturing with the exception being continued strength in new export orders, ISM reports.

MANUFACTURING AT A GLANCE OCTOBER 2007
Index	Series Index October	Series Index September	Percentage Point Change	Direction	Rate of Change	Trend* (Months)
PMI	50.9	52.0	-1.1	Growing	Slower	9
New Orders	52.5	53.4	-0.9	Growing	Slower	11
Production	49.6	54.6	-5.0	Contracting	From Growing	1
Employment	52.0	51.7	+0.3	Growing	Faster	7
Supplier Deliveries	50.6	51.9	-1.3	Slowing	Slower	2
Inventories	47.2	41.6	+5.6	Contracting	Slower	15
Customers' Inventories	54.0	50.0	+4.0	Too High	From Unchanged	1
Prices	63.0	59.0	+4.0	Increasing	Faster	10
Backlog of Orders	46.0	51.0	-5.0	Contracting	From Growing	1
Exports	57.0	54.5	+2.5	Growing	Faster	59
Imports	47.5	53.0	-5.5	Contracting	From Growing	1

OVERALL ECONOMY				Growing	Slower	72
Manufacturing Sector				Growing	Slower	9

*Number of months moving in current direction.

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