Today brings monthly reports for key measures of economic activity. The PMI is reported higher at 56.9%. vs. the Sept 2010 report of 54.4% while the PMI Employment Index is reported at 57.7% vs. the Sept 2010 report of 56.5%. Charts, link and excerpts from their report below.
The Conference Board likewise provided an update on job demand with their Help Wanted Online Index which was higher by 113,700. See the link, the excerpted chart and comparison chart of the Household Employment Survey below.
The economic trends that have been in place for nearly 2yrs continue upwards. The Household Employment Survey but for the “Census Worker Blip” which covers both the Establishment Survey (that shown in the HWOL Index) indicates a stronger level of employment growth in small business vs. established businesses. The PMI Employment Index confirms that the employment growth is trending higher.
Excerpts from and link for Institute of Supply Management Purchasing Manager Index report:
Norbert J. Ore reported for the Institute of Supply Management:
“The manufacturing sector grew during October, with both new orders and production making significant gains. Since hitting a peak in April, the trend for manufacturing has been toward slower growth. However, this month’s report signals a continuation of the recovery that began 15 months ago, and its strength raises expectations for growth in the balance of the quarter.”