Potential signal reflecting ‘pent up’ inflationary pressures in the materials pipeline?
Prices*
The ISM Prices Index registered 54 percent in August, which is an increase of 14.5 percentage points compared to the July reading of 39.5 percent. This is the first month the index has reflected an increase in the price of raw materials since April 2012 when the Prices Index registered 61 percent. This is also the largest month-over-month increase since September 2005, when the index increased 15.5 percentage points from August 2005. In August, 23 percent of respondents reported paying higher prices, 15 percent reported paying lower prices, and 62 percent of supply executives reported paying the same prices as in July. A Prices Index above 49.4 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) Index of Manufacturers Prices.
Of the 18 manufacturing industries, seven reported paying increased prices during the month of August in the following order: Nonmetallic Mineral Products; Printing & Related Support Activities; Food, Beverage & Tobacco Products; Furniture & Related Products; Chemical Products; Paper Products; and Primary Metals. The four industries reporting paying lower prices during August are: Petroleum& Coal Products; Miscellaneous Manufacturing; Machinery; and Computer & Electronic Products. Seven industries reported no change in prices paid in August compared to July.
No comments:
Post a Comment