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Economic Data (USA)

Friday, July 01, 2016

ISM Manufacturing Index for June 2016

Earlier today, the Institute for Supply Management (ISM) released their Purchasing Manager's Index (PMI) for June 2016:

Predicted: 51.5%
Actual: 53.2%

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

The previous PMI reading was 51.3%.

The following is a sampling of quotes from a diverse pool of U.S. manufacturers:

  •    'We are gaining new customers through better sales management.'
    (Food, Beverage & Tobacco Products)
  •     'Slower shipments because of weather related flooding.'
    (Chemical Products)
  •     'Conditions have remained steady from [the] past month and are in line with our forecast.'
    (Computer & Electronic Products)
  •     'Very good start of summer for business levels/orders.'
    (Fabricated Metal Products)
  •     'Business is steady with some signs of increase.'
  •     'Business is still strong, but slowing slightly.'
    (Transportation Equipment)
  •     'Business conditions are good, production and demand are stable.'
    (Miscellaneous Manufacturing)
  •     'Orders are slowing from China. American customers still steady.'
    (Primary Metals)
  •     'Demand continues to be robust.'
    (Plastics & Rubber Products)
  •     'Business is still slower than expected.'
    (Nonmetallic Mineral Products)
Click here to view the complete ISM report.

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