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Economy

Economic Data (USA)

Monday, August 01, 2016

ISM Manufacturing Index for July 2016

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

Predicted: 53.2%
Actual: 52.6%

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 53.2%.

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


  •      "With Brexit, keeping [a] close eye on how this will impact our business."
     (Chemical Products)

  •     "Stronger than expected end to Q2 (June) saw us beat our forecast which is the first time in five quarters, though we were still below Annual Operation Plan (AOP)."
     (Computer
    and Electronic Products)

  •     "Strong demand in our market has business in an upswing."
     (Nonmetallic Mineral Products)
     
  •     "International capital orders are increasing."
     (Fabricated Metal Products)
     
  •     "Brexit has not impacted our business thus far."
     (Food, Beverage
    and Tobacco Products)
     
  •     "Retail sales have really slowed in the last 45 days. Our industry is seeing it everywhere. Steel prices are rising."
     (Machinery)

  •     "Seems to be a bit more optimism in the markets. But, U.S. Presidential race might dampen the mood."
     (Plastics and Rubber Products)

  •     "Demand and industry production are both slowing down." (Transportation Equipment)

  •     "Oversupply continues to dominate demand. Poor weather is having a negative impact on building, creating short term slow demand."
     (Wood Products)

  •     "Oil and gas industry sector continues to realign staff to reflect $40-$50/barrel oil. This price range is seen as the new normal for the foreseeable future."
     (Petroleum
    and Coal Products)

Click here to view the complete ISM report.


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