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The Manufacturing ISM Report On Business is published monthly by the Institute for Supply Management (ISM), the largest supply management organization in the world, as well as one of the most respected. Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 111th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
Manufacturing expanded in July as the PMI registered 58.1 percent, a decrease of 2.1 percentage points from the June reading of 60.2 percent. This indicates strong growth in manufacturing for the 23rd consecutive month, led by continued expansion in new orders, production, and employment.
ISM’s New Orders Index registered 60.2 percent in July, which is a decrease of 3.3 percentage points when compared to the 63.5 percent reported for June, indicating growth in new orders for the 31st consecutive month.
ISM’s Production Index registered 58.5 percent in July, which is a decrease of 3.8 percentage points when compared to the 62.3 percent reported for June, indicating growth in production for the 23rd consecutive month.
ISM’s Employment Index registered 56.5 percent in July, an increase of 0.5 percentage point when compared to the June reading of 56 percent. This indicates growth in employment in July for the 22nd consecutive month.
The delivery performance of suppliers to manufacturing organizations slowed in July, as the Supplier Deliveries Index registered 62.1 percent. This is 6.1 percentage points lower than the 68.2 percent reported for June, representing the 22nd straight month of slowing supplier deliveries.
The Inventories Index registered 53.3 percent in July, which is an increase of 2.5 percentage points when compared to the 50.8 percent reported for June, indicating growth in raw materials inventories.
ISM’s Backlog of Orders Index registered 54.7 percent in July, which is 5.4 percentage points lower than the 60.1 percent reported in June, indicating growth in order backlogs for the 18th consecutive month.
Of the 18 manufacturing industries, 17 reported growth in July, in the following order: Textile Mills; Electrical Equipment, Appliances & Components; Apparel, Leather & Allied Products; Computer & Electronic Products; Petroleum & Coal Products; Paper Products; Printing & Related Support Activities; Nonmetallic Mineral Products; Machinery; Plastics & Rubber Products; Miscellaneous Manufacturing; Fabricated Metal Products; Food, Beverage & Tobacco Products; Furniture & Related Products; Chemical Products; Wood Products; and Transportation Equipment. The only industry reporting a decrease in July is Primary Metals.