New high for ISM manufacturing index

The Institute for Supply Management has released new information on manufacturing in the U.S., and once again, this might spur on some interest in developing production operations locally. 

That organization's monthly manufacturing report for October has revealed a cresting figure of 56.4 for the Purchasing Manufacturing Index for this past month, which has drawn some attention because it is a 0.2 increase in the figures for the previous month.

According to a release that ISM issued today, a majority of the different types of manufacturers in the U.S. are reporting an increase as well, including electronics, machinery, and "fabricated metal products." Things seem to be moving at a faster pace on a smaller and larger level, and have been part of a consistent five-month pattern, as the figures state.

Bloomberg Businessweek reports that this number represents a new high for this index since 2011, and noted that it was above its own predictions for what the month would show.

It quoted analyst Terry Sheehan on this matter, specifically looking at the lack of impact that the government shutdown seems to have had on manufacturing enterprises.

"The government closure didn't have much effect on manufacturing — this is a modest pace of growth and fairly well-sustained," Sheehan said.

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