Economic activity continued to expand for ISA members in October, according to the latest Economic Indicator Report from the Industrial Supply Association. The Manufacturers Index increased 5 percentage points to 66.7 percent in October compared to September. The Distributor Index rose 6.1 percentage points to 70.9 percent. For each index, a reading above 50 percent indicates expansion; a reading below 50 percent indicates contraction.
Both indexes have been above 50 percent for all of 2013.
“Manufacturers of abrasives performed even better during the October reporting period than other manufacturers, as indicated by the Abrasives Manufacturer Index reading of 73.3 percent for the month,” John Buckley, ISA executive vice president, said. “While the Cutting Tools Manufacturer Index was at 62.4 percent in October, it slightly underperformed the overall manufacturer index.”