The October ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed that business expanded at a faster pace in September than in August.
“The ISA Distributor Index increased from 65.1 in August to 76.8 in September, while the ISA Manufacturer Index improved from 59.0 in August to 60.5 the previous month,” said Bryon Shafer, general manager of ASG Industrial and chair of ISA’s Strategic Information Committee.
For each index, a reading above 50 percent indicates expansion, while a reading below 50% indicates contraction. The Indexes have been above 50% since December 2012.
"The New Orders Index and the Business Activity Index were both exceptionally strong this month, which suggests that member companies are bullish about the near future,” Shafer said.