Friday, July 1, 2016

Manufacturing Expands for Fourth Consecutive Month

The ISM Manufacturing Index rose to 53.2 points in June – up 1.9 points from May’s reading of 51.3. June’s reading marks the fourth consecutive month of growth in the manufacturing industry, as readings above 50 indicate expansion. Of the eighteen manufacturing industries, thirteen reported growth while three reported contraction.

The employment index registered 50.4 points, an increase of 1.2 points from May’s reading of 49.2. Seven industries including textile mills, primary metals and printing and related support activities reported expansion. Six industries including fabricated metal products, machinery and petroleum and coal products reported contraction.

The index of new orders registered 57.0 points in June, up 1.3 points. Twelve industries reported growth in new orders, while five industries including transportation equipment, wood products and primary metals reported a decline.

Export orders rose 1 point 53.5 in June, indicating expansion. Ten industries reported an increase in exports, while three industries including nonmetallic mineral products and primary metals reported a decline in export orders.

The inventories index rose 3.5 points to 48.5, indicating raw materials inventories are contracting in June for the 12th consecutive month, but at a slower rate than in May.

Read the ISM release.
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