Highlights
The ISM's index points to slow, steady expansion in the manufacturing sector. At 52.6, it's little changed from August's 52.9 and is still over 50 indicating that more purchasers are reporting expansion rather than contraction. New orders slowed but still remain very strong, at 60.8 vs. 64.9. Production also slowed, down more than 6 points to 55.7 still indicating a month-to-month increase for manufacturing sales. Employment is steady, little changed at 46.2 and pointing to continued but moderate layoffs. Inventories gave the index a big boost, up more than 8 points to 42.5 to indicate that manufacturers are slowing their draws, the result of production needs and also business planning for continued production needs ahead. Consistent with demand, prices continue to show pressure, at 63.5 while deliveries, up nearly 1 point to 58.0, continue to slow offering evidence of congestion in the supply chain. Today's report isn't blockbuster but it is a positive, pointing not to a dip back but to continued growth for the manufacturing sector. But equities are on the decline following release of the report.

Market Consensus before announcement
The Institute for Supply Management's manufacturing index in August burst over the dead-even 50 level for the first time since the beginning of the recession to 52.9 from 48.9 in July. We are likely to see further improvement in September as the new orders index jumped to 64.9 in August from 55.3 the prior month.

2009 Release Schedule

Released On: 1/2 2/2 3/2 4/1 5/1 6/1 7/1 8/3 9/1 10/1 11/2 12/1 Release For: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov