Tuesday, July 1, 2014

ISM Manufacturing Declined Slightly in June

The ISM manufacturing index declined slightly in June, by 0.1 to 55.3. June’s level is the second highest all year, yet still below levels seen at the end of last year. The index has been above its expansionary threshold of 50 for 13 months. Details of the ISM report point to future growth.

New orders improved to 58.9 from 56.9, the best all year. Inventories remained at 53.0. The gap between new orders and inventories – a proxy for future growth – grew to 5.9 from 3.9 in May.

The employment index remained at 52.8. Half of the 18 manufacturing industries reported employment growth. Five reported declines, including plastics/rubber, primary metals and chemical products.

Production declined slightly to 60.0.

Read the ISM release.

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