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ISM: Manufacturing cools slightly in June

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ISM:  Manufacturing cools slightly in June

PMI declines from May; new orders up.

Economic activity in the US manufacturing sector expanded in June for the 13th consecutive month, and the overall economy grew for the 61st consecutive month, according to a monthly survey of supply executives by ISM.

However, the June PMI decreased overall by 0.1percentage point from May.

The June PMI came in at 55.3%, indicating expansion in manufacturing.  New orders jumped, however, as the New Orders Index registered 58.9%, an increase of 2 percentage points from the 56.9% reading in May.

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The Production Index registered 60%, 1 percentage point below May’s 61%, while employment grew for the 12th consecutive month, registering 52.8%, the same level of growth as reported in May. Inventories of raw materials remained at 53%, the same reading as reported in both May and April. The price of raw materials grew at a slower rate in June, registering 58%, down 2 percentage points from May.

 

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