FOR RELEASE: January 18, 2002
|ISM, Media Relations|
|800/888-6276, Ext. 3015|
(Tempe, Arizona) The U.S. Department of Commerce recently completed its annual adjustment to the seasonal factors used to calculate the PMI, as well as the diffusion indexes for New Orders, Production, Employment, Supplier Deliveries, Inventories, Prices, New Export Orders, and Imports within the monthly Manufacturing ISM Report On Business®. Economists and managers who track these indexes will note these changes effective with the January 2002 Manufacturing ISM Report On Business®, which is scheduled to be issued on February 1, 2002.
Seasonal adjustment factors are used to allow for the effects of repetitive intra-year variations resulting primarily from normal differences in weather conditions, various institutional arrangements, and differences attributable to non-movable holidays. It is standard practice to project the seasonal adjustment factors used to calculate the indexes a year ahead (2002). The Department of Commerce then takes the actual experience for that year and adjusts the factors, which also affects the indexes for the previous years: 1998, 1999, 2000, and 2001.
The previous and current revisions to the indexes for 1998, 1999, 2000, and 2001 are attached, as well as the 2002 projected seasonal factors. The 2002 seasonal factors will be recomputed when the actual data are known in early 2003. Previously published and revised PMI, together with projected seasonal factors for 2002 are listed on the next page. Indexes for all other indicators both previously published and revised, are shown on pages 3 and 4. This information is also available on the ISM Web site.