Graphs

PMI Index Factors 1992-1995

90.00
85.00
80.00
75.00
70.00

New Orders

65.00

Production
Employment

60.00

Supplier Deliveries
Inventories

55.00

Prices

50.00

Export Orders
Imports

45.00
40.00

Ratio of Sales to Inventory

1.50
1.40
1.30
1.20
1.10
1.00
0.90

Period (Month)

PMI Index
65.00
60.00

1992

55.00

1993
1994

50.00

1995

45.00

1996
Page 1

Graphs

1995

45.00

1996

40.00

Inventories and Production

70.00
65.00
60.00
55.00
50.00
45.00
40.00
35.00
30.00

Inventories

Page 2

Dec-96

May-96

Nov-95

Apr-95

Oct-94

Mar-94

Sep-93

Feb-93

Aug-92

Jan-92

Production

Graphs

New Orders
Production
Employment
Supplier Deliveries
Inventories
Prices
Export Orders
Imports

Page 3

Graphs

Inventories
Production

Page 4

Analysis

Jan-92
Feb-92
Mar-92
Apr-92
May-92
Jun-92
Jul-92
Aug-92
Sep-92
Oct-92
Nov-92
Dec-92

Sales/Inventory
1.12
1.33
1.43
1.37
1.30
1.39
1.27
1.28
1.21
1.27
1.40
1.36

Jan-93
Feb-93
Mar-93
Apr-93
May-93
Jun-93
Jul-93
Aug-93
Sep-93
Oct-93
Nov-93
Dec-93

1.45
1.40
1.27
1.19
1.23
1.11
1.18
1.25
1.14
1.21
1.33
1.44

Jan-94
Feb-94
Mar-94
Apr-94
May-94
Jun-94
Jul-94
Aug-94
Sep-94
Oct-94
Nov-94
Dec-94

1.42
1.40
1.47
1.38
1.28
1.36
1.43
1.41
1.35
1.34
1.30
1.30

Jan-95
Feb-95
Mar-95
Apr-95
May-95
Jun-95
Jul-95
Aug-95
Sep-95
Oct-95
Nov-95
Dec-95

1.27
1.21
1.11
1.19
1.01
1.04
1.15
1.04
1.22
1.13
1.12
1.04

Page 5

Analysis

Jan-96
Feb-96
Mar-96
Apr-96
May-96
Jun-96
Jul-96
Aug-96
Sep-96
Oct-96
Nov-96
Dec-96

0.89
1.06
1.24
1.21
1.36
1.46
1.31
1.32
1.26
1.30
1.32
1.30

Page 6

PMI Data

January
February
March
April
May
June
July
August
September
October
November
December

1992
47.30
52.70
54.60
52.60
55.70
53.60
53.90
53.40
49.70
50.30
53.60
54.20

PMI Index
1993
55.80
55.20
53.50
50.20
51.20
49.60
50.20
50.70
50.80
53.40
53.80
55.60

1994
55.70
56.40
57.00
57.30
58.50
58.80
58.90
58.10
58.90
59.60
59.10
55.90

1995
56.90
55.00
52.20
51.60
47.10
45.90
51.20
47.40
48.00
46.80
45.80
45.80

1996
44.70
45.80
47.30
49.60
49.70
53.80
50.30
52.10
51.20
50.40
52.40
53.80

Seasonally Adjusted Indexes -- 1992, 1993, 1994, 1995, 1996

Jan-92
Feb-92
Mar-92
Apr-92
May-92
Jun-92
Jul-92
Aug-92
Sep-92
Oct-92
Nov-92
Dec-92

New
Supplier
Export
Orders
Production Employment Deliveries Inventories Prices Orders
49.60
50.40
40.60
48.70
44.10
45.40
51.90
58.30
58.70
43.90
49.30
44.00
45.90
54.70
63.30
59.70
43.70
50.30
44.30
48.10
54.70
59.10
57.80
45.00
47.40
43.20
51.10
53.40
60.90
61.20
49.50
50.00
47.00
55.00
56.20
59.80
57.60
46.60
50.80
43.10
53.90
53.10
59.50
57.40
45.50
52.50
46.90
56.20
55.20
58.80
56.80
47.30
50.30
45.80
53.70
53.30
51.10
53.90
45.10
51.20
42.30
51.60
55.80
53.80
54.70
44.70
48.60
42.40
46.40
53.80
58.80
58.60
47.10
51.30
42.10
42.10
52.90
61.00
57.90
45.90
51.50
45.00
48.00
53.10

Jan-93
Feb-93
Mar-93
Apr-93
May-93
Jun-93
Jul-93
Aug-93
Sep-93
Oct-93
Nov-93
Dec-93

63.00
59.70
58.10
53.00
55.20
51.60
53.80
55.30
52.60
58.90
60.40
62.40

61.50
63.50
56.70
51.60
55.00
53.10
52.70
53.90
55.20
56.10
57.50
61.70

46.90
47.00
47.10
44.80
43.60
43.20
43.60
41.90
44.50
46.00
45.50
47.10

52.30
51.70
52.70
52.80
51.50
50.40
51.00
51.80
51.30
50.70
50.90
51.50

43.30
42.60
45.60
44.70
44.80
46.50
45.50
44.40
46.20
48.60
45.50
43.20

49.80
53.90
53.60
54.60
50.40
50.60
51.40
52.30
49.00
50.90
52.70
53.10

53.40
53.20
52.30
53.50
54.20
52.40
50.10
52.60
51.70
54.10
55.00
53.80

Jan-94
Feb-94
Mar-94
Apr-94
May-94
Jun-94

62.60
62.10
62.90
62.60
62.00
65.30

59.70
60.30
63.40
61.30
62.50
61.70

47.30
48.70
48.30
50.30
51.70
49.60

54.30
56.70
55.40
57.30
60.50
60.20

44.10
44.40
42.90
45.50
48.30
48.10

58.90
63.00
62.80
63.20
67.60
69.50

55.20
57.40
55.10
56.80
54.60
57.80

Page 7

PMI Data

Jul-94
Aug-94
Sep-94
Oct-94
Nov-94
Dec-94

64.80
63.10
62.70
63.40
61.20
58.60

62.90
60.50
62.30
63.60
64.10
59.50

52.20
51.50
52.40
51.10
51.50
46.30

58.50
61.70
62.30
64.70
65.00
64.50

45.30
44.60
46.40
47.40
47.10
45.10

72.70
75.60
80.50
84.30
83.50
86.60

57.70
57.90
60.00
58.40
57.00
58.50

Jan-95
Feb-95
Mar-95
Apr-95
May-95
Jun-95
Jul-95
Aug-95
Sep-95
Oct-95
Nov-95
Dec-95

58.20
56.30
52.10
52.30
44.50
44.00
54.10
46.80
49.20
47.60
48.00
45.20

60.90
57.60
54.60
53.90
49.80
45.30
51.80
49.70
50.50
47.70
45.30
46.80

51.40
50.00
48.40
47.90
44.10
46.80
47.90
45.10
45.30
45.80
44.50
45.50

62.20
60.20
57.00
56.30
53.70
51.60
51.70
49.40
50.10
48.40
45.60
47.20

45.80
46.70
46.90
43.90
44.00
42.50
46.90
45.10
40.30
42.10
43.00
43.40

85.80
81.60
78.50
73.40
69.90
63.70
59.80
49.10
48.60
47.30
45.00
40.20

58.10
57.20
56.80
55.60
55.60
56.10
57.60
54.20
52.90
52.00
56.10
56.90

Jan-96
Feb-96
Mar-96
Apr-96
May-96
Jun-96
Jul-96
Aug-96
Sep-96
Oct-96
Nov-96
Dec-96

42.30
45.90
49.80
52.80
53.10
61.00
54.10
55.00
55.00
52.10
55.20
58.20

45.20
45.90
47.40
51.50
53.00
54.60
52.30
56.10
53.90
56.10
57.70
58.50

44.60
44.40
44.90
45.40
45.60
48.80
45.90
47.80
46.70
45.80
47.50
47.50

47.00
49.00
49.90
49.40
50.20
52.60
51.30
52.30
50.20
50.70
51.60
51.60

47.50
43.20
40.10
43.70
39.10
41.90
41.40
41.80
43.60
40.10
41.90
44.90

39.50
38.50
39.60
40.50
50.00
47.30
45.30
47.90
50.60
47.30
46.70
50.80

49.20
49.70
51.00
51.70
56.70
53.50
54.60
56.10
55.80
56.10
56.10
56.30

Seasonally Adjusted Indexes -- 1992, 1993, 1994, 1995, 1996

Page 8

PMI Data

Imports
47.00
47.20
49.80
52.10
53.90
49.10
49.70
48.60
46.70
47.70
48.00
51.40
49.40
49.50
49.40
50.10
47.40
49.80
48.70
49.40
49.90
49.40
51.50
50.30
52.20
51.70
51.60
51.70
53.60
55.50

Page 9

PMI Data

50.80
51.50
53.00
53.70
53.10
53.40
52.00
52.50
51.40
49.70
48.20
49.70
53.00
52.20
49.60
49.30
44.00
50.70
47.80
47.50
47.20
47.60
49.20
49.30
51.80
50.70
51.10
52.60
52.40
52.70

Page 10