Published
July 05, 2017 - 08:00am
Economic activity in the manufacturing sector expanded in June, and the overall economy grew for the 97th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The report was issued today by Timothy R. Fiore, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee. The report noted:
- Manufacturing expanded in June as the PMI registered 57.8 percent, an increase of 2.9 percentage points from the May reading of 54.9 percent and its highest level since August 2014, when it registered 57.9 percent. This indicates growth in manufacturing for the 10th consecutive month. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
- The New Orders Index registered 63.5 percent in June, which is an increase of 4 percentage points when compared to the 59.5 percent reported for May, indicating growth in new orders for the 10th consecutive month. New orders returned to the above 60 level last seen in March 2017 and continues to signal strong order intake for calendar year 2017.
- The Production Index registered 62.4 percent in June, which is an increase of 5.3 percentage points when compared to the 57.1 percent reported for May, indicating growth in production for the 10th consecutive month and reaching its highest level since February 2017 when it registered 62.9 percent.
- The Employment Index registered 57.2 percent in June, an increase of 3.7 percentage points when compared to the May reading of 53.5 percent and its highest level since March 2017, when it registered 58.9 percent. This indicates growth in employment in June for the ninth consecutive month. Employment levels have been expanding since October 2016.
The Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide.
Source and more information: Institute for Supply Management.
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