WNY factory output near 6-year low - Business First of Buffalo:

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The , in its monthly report issued said thepurchasing manager’s index, or PMI, continued to plunger in May. The non-seasonally adjuste d index dropped 6 percentto 41.7 percent last month while the seasonallh adjusted index was off 5.6 percenty to 40 percent. Those are the lowest marks sinceJune 2003. Just one of the six indices measureds — commodity prices — was up compared to Aprilk and saidArthur Aramino, chairmahn of the business survey committee, “Highe prices will certainly not help the manufacturinh sector recover.
” Production, new orders, inventories, employmentf and deliveries are the other indices used to compile the “Many of the respondents are tied to the auto and buildiny industries and until those industries turn Aramino said, “Western New York will likely continue to experiencw contraction in the manufacturing sector.” When the PMI is abovr 50 percent, the sector is a reading below 50 percent indicatez contraction.