Manufacturing Output

Channel News Asia  May 25  Comment 
SINGAPORE: Singapore’s manufacturing output rose 9.1 per cent in April from a year ago, according to figures released by the Economic Development Board (EDB) on Friday (May 25). April's jump continues an upward trend after manufacturing output...  Apr 11  Comment 
A frozen February hampered the building and retail industry, but momentum has slowed by sterling’s rise, betting against Brexit, and weak manufacturing The UK economy had a poor start to 2018. Manufacturing output was flat in January and fell...
Reuters  Apr 11  Comment 
British manufacturing output fell unexpectedly in February, its first month-on-month drop in almost a year, adding to signs the economy may have slowed in the first quarter.
BBC News  Apr 11  Comment 
Economists had forecast a 0.2% rise in industrial and manufacturing output for February.
Channel News Asia  Mar 26  Comment 
On a seasonally adjusted month-on-month basis, manufacturing output fell by 0.5 per cent. 
Channel News Asia  Feb 26  Comment 
SINGAPORE: Singapore's manufacturing sector got off to a good start in 2018, with output rising 17.9 per cent in January compared to the same month a year ago, according to figures released by the Economic Development Board (EDB) on Monday (Feb...
Channel News Asia  Jan 26  Comment 
SINGAPORE: Singapore's overall manufacturing output rose by 10.1 per cent in 2017 to post its best performance since 2010, in spite of a surprise contraction in December, according to figures released by the Economic Development Board (EDB) on...
Channel News Asia  Jan 17  Comment 
U.S. industrial production increased more than expected in December as unseasonably cold weather at the end of the month boosted demand for heating, but manufacturing output barely rose, pointing to moderate growth in the industrial sector.


Manufacturing output refers to the total inflation-adjusted value of output produced by manufacturers.[1] Announcements of manufacturing output include month-over month and year-over-year changes in manufacturing production. The manufacturing sector accounts for almost 80% of total Industrial Production and tends to have a big impact on market behavior. It is a leading indicator of economic health as manufacturing output reacts quickly to ups and downs in the business cycle.

Measures of Manufacturing Output

ISM Manufacturing Composite Index

The ISM Manufacturing Composite Index is released monthly by the Institute of Supply Management which tracks the amount of manufacturing activities in the previous month. Data for the index comes from a monthly survey done by purchasing managers from approximately 300 manufacturing firms of 21 industries in 50 states. Queries in the survey includes general direction of production, new orders, order backlogs, manufacturers' inventories, customers' inventories, employment, supplier deliveries, exports, imports, and prices. The five equally weighted components that form the composite consist of new orders, production, employment, supplier deliveries, and the manufacturer's inventories. The index value ranges between 0 and 100. Whenever the index value falls below 50, it tends to indicate an economic recession, especially when the trend continues for several months consecutively. A value substantially above 50 most likely means a time of economic growth.[2]

Why is it important?

Manufacturing Output reacts quickly to ups and downs in the business cycle, and is correlated with consumer conditions like unemployment rates and earnings. The ISM manufacturing index gives a detailed picture of the manufacturing sector such as the level of activities and the general direction of the manufacturing industry. Since the manufacturing industry contributes to majority of the cyclical variability in the economy, the index has a big influence on the markets. Some of the ISM sub-indices provide insights into commodity prices and signals for potential inflation developing. If the index increases too rapidly, this may lead to excessive consumption and inflation pressure. Hence, the Federal Reserve monitors this report closely as it helps to determine the direction of interest rates when inflation signals are flashing in the data provided. Therefore, the bond market is also highly sensitive to this report.[3]


  1. ForexFactory: Calendar
  2. Econoday: 2010 Economic Calendar
  3. Econoday: 2010 Eonomic Calendar
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