National Association of Purchasing Managers (NAPM) Source: National Association of Purchasing Managers (NAPM) Frequency: Monthly Availability: First working day of the month following the reported period Possible Impact on Interest Rates: Stronger-than-expected monthly index or increasing trend is considered inflationary, causing bond prices to drop and yields and interest rates to rise.
Current Data Reported May 1, 2000: The NAPM index fell to 54.9% in April, the lowest reading in eight months. With the exception of employment and deliveries, all components were lower. Prices dropped to 76.0 from March's five year high of 79.8. The manufacturing sector is strong and continues to trend above the 50% mark, which indicates expansion. See "Overview" below for more information. Overview: The National Association of Purchasing Managers (NAPM) index is based on a survey of over 250 companies within twenty-one industries covering all 50 states. It provides the first glimpse each month of manufacturing activity during the past 30-day period. The survey covers the following six areas:
Participants are asked to characterize each of these categories as "up", "down", or "unchanged". The calculated index is then adjusted for seasonal changes. A reading of 50 indicates conditions are unchanged. A reading over 50 suggests an expanding environment and under 50, declining. The bond market views a strong number as bearish and a weak report as bullish.
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