ISM: New Orders, Employment and Production Growing



According to the latest Manufacturing ISM Report on Business activity in July, the manufacturing sector expanded for the 14th consecutive month, and the overall economy grew for the 62nd consecutive month, say the nation’s supply executives.

The report notes that the July PMI registered 57.1%, an increase of 1.8 percentage points from June’s reading of 55.3%, indicating expansion in manufacturing for the 14th consecutive month.

The New Orders Index registered 63.4%, an increase of 4.5 percentage points from the 58.9% reading in June, indicating growth in new orders for the 14th consecutive month. The Production Index registered 61.2%, 1.2 percentage points above the June reading of 60%. Employment grew for the 13th consecutive month, registering 58.2%, an increase of 5.4 percentage points over the June reading of 52.8%. Inventories of raw materials registered 48.5%, a decrease of 4.5 percentage points from the June reading of 53%, contracting after five months of consecutive growth. Comments from the panel are generally positive, while some indicate concern over global geopolitical situations.”

Of the 18 manufacturing industries, 17 are reporting growth in July in the following order: Furniture & Related Products; Textile Mills; Apparel, Leather & Allied Products; Printing & Related Support Activities; Plastics & Rubber Products; Paper Products; Nonmetallic Mineral Products; Food, Beverage & Tobacco Products; Machinery; Chemical Products; Miscellaneous Manufacturing; Fabricated Metal Products; Electrical Equipment, Appliances & Components; Petroleum & Coal Products; Primary Metals; Transportation Equipment; and Computer & Electronic Products. The only industry reporting contraction in July is Wood Products.

To view the full Manufacturing ISM Report on Business, click here.


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