National manufacturing activity continues to decline
The Institute for Supply Management (ISM) reported the index of national factory activity fell to 38.9 in October, down from 43.5 in September.
The Institute for Supply Management (ISM) reported the index of national factory activity fell to 38.9 in October, down from 43.5 in September. The contracted factory activity fell to its lowest in 26 years as all sectors of the globe continued to struggle with the financial crisis. The mark was well below the 50 level separating contraction from expansion in the market, and any mark below 40 is exceptionally weak. Economist had initially projected a reading of 41.5 and manufacturing on global continued to struggle with Euro-zone manufacturing sinking below record low levels and Chinese manufacturing shrank sharply in October.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey