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At 49.6 the purchasing manager’s composite index (PMI) rose 0.40% since July remaining 5.52% below the level seen a year earlier.
Respondents appear to have completed a significant about-face from the optimistic views expressed earlier in the year as they indicated that "slowing" is now the best description of manufacturing activity:
"Internal indicators and feedback from sales channels are indicating a slowdown in demand for capital equipment." (Machinery)
"Business continues to be very solid, but there is now a slowing of incoming orders." (Fabricated Metal Products)
"Incoming orders have slowed somewhat, but indications are that there will be a stronger fourth quarter." (Plastics & Rubber Products)
"Business is slow right now. Companies seem to be holding onto their money." (Computer & Electronic Products)
"We can sense, feel and see headwinds with customer orders, especially Europe related." (Apparel, Leather & Allied Products)
"New orders and backlog remain flat." (Miscellaneous Manufacturing)
"Auto industry slowing a bit in the second half [of the year]." (Transportation Equipment)
"U.S. drought severely impacting raw materials prices." (Food, Beverage & Tobacco Products)
"Lackluster demand continues in all regions of the world, and is supporting much lower raw materials prices in the second half of 2012." (Chemical Products)
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