PMI drops to 56.6% in October

The index jumped to 65.2% in September as the economy returned to full productivity following the war. D&B noted that October generally shows slower economic activity due to the Jewish holidays.

By AVI KRAWITZ
November 14, 2006 07:03

Industrial activity slipped from its post war high in October as the Purchases Managers Index (PMI) dropped 8.6 percentage points to 56.6%, research company Dun & Bradstreet said Monday. PMI values above 50% reflect growth. D&B economists said they expect productivity to continue to grow through the year despite the month's decline. While all components in the index were negative for the month, D&B said the decrease was spurred by the steep 15.5 percentage-point drop in local demand and a 13.9-point slide in manufacturing production. The index jumped to 65.2% in September as the economy returned to full productivity following the war. D&B noted that October generally shows slower economic activity due to the Jewish holidays.


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