MAPI Business Outlook: Manufacturers are Optimistic
Widespread improvement in a number of indexes suggests optimism for the manufacturing sector in the next three to six months, according to the quarterly MAPI Business Outlook.
The survey’s composite index is a leading indicator for the manufacturing sector. The September 2013 composite index advanced to 66 from 58 in the June survey, the third straight quarterly advance and the highest level since the December 2011 reading of 66. For 16 quarters, the index has remained above the threshold of 50, the dividing line separating contraction and expansion.
“Most indexes improved in September, and several rose significantly,” noted Donald A. Norman, PhD, MAPI senior economist and survey coordinator. “In particular, the large increase in the composite index and the jump in the U.S. Prospective Shipments and the Backlog Orders indexes point to an increased pace of manufacturing activity in the fourth quarter.”
To read the entire press release, click here.