The overall picture in September is one of negligible decline in manufacturing activity. Production registered significant growth, with nine industries reporting greater output. Deliveries of commodities were somewhat slower. However, commodities appear to be in ample supply as once again the short supply list is vacant.
While not as strong as in July, the (index) still indicates significant economic growth in both manufacturing and the overall economy. Both new orders and production continue at relatively strong levels. This months comments from supply managers indicate great concern over recent new highs in the energy commodities.