-By Ron Styne
The ISM-(Institute for Supply Management) is a not for profit educational association and the largest supply management association in the world.
Each month the ISM releases a monthly report of the PMI-(Purchasing Managers Index). The index is based on surveying 400 US purchasing managers in the manufacturing industry. These managers are asked to rate the level of business conditions as they see it, on business conditions such as employment, production, new orders, prices, supplier deliveries and inventories.
For the index a reading above 43.2 percent over a period of time, generally indicates an expansion of the overall economy. The January PMI was at 51.3 and indicates overall growth in the economy for the 56th consecutive month. It indicates an expansion in the manufacturing sector for the eighth consecutive month.