Dayton Business Journal…
U.S manufacturing continues slowdown in August
by Joe Cogliano, Senior Reporter
Tuesday, September 4, 2012 

Manufacturing — one of the recent bright spots of the U.S. economy — continued to slow in August, according to a Tuesday report from the Institute for Supply Management. 

The PMI, an index used to measure the strength of manufacturing, was at 49.6 percent last month, a decrease of 0.2 percentage points compared to July. A reading below 50 percent indicates the manufacturing economy is generally in a period of contraction. 

August marked the lowest reading since July 2009 and the third consecutive month the index fell below 50 following nearly three years of expansion. 

“Comments from the panel generally reflect a slowdown in orders and demand, with continuing concern over the uncertain state of global economies,” said Bradley Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee, in a statement. 

However, while U.S. manufacturing in general continues to show signs of weakness, officials paint a more optimistic picture of the industry locally. 

Greg Knox, CEO of Franklin-based Knox Machinery, said his company made thousands of contacts in the Dayton region in the last two months leading up to the biannual IMTS show, the largest advanced manufacturing show in the country. 

“We are finding the level of activity is still extremely brisk and we anticipate an even stronger show (more purchasing) than the 2010 IMTS show — which was an excellent show,” said Knox, who also serves as incoming chairman of the Dayton Region Manufacturers Association. “I do not personally see any signs of a slowdown.”

Manufacturing is critical to the local economy because it represents 100,000 jobs and accounts for tens of billions of dollars in annual sales in the 12-county region surrounding Dayton, according to a Wright State University study commissioned by the DRMA.