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Economic Data (USA)

Monday, July 03, 2017

ISM Manufacturing Index for June 2017

Earlier today, the Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for June 2017:

Predicted: 55.1%
Actual: 57.8%

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 month's PMI reading was 54.9%.

From Today's Report:

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

  •      "Overall, business is strong. We are seeing price increases for packaging and handling materials as well as some MRO supplies"
     (Plastics and Rubber Products)
  •     "Overall, demand is up 5-7 percent and expected to continue through the end of the year, at least."
     (Transportation Equipment)
  •     "Demand is picking up; meeting budget expectations."
     (Electrical Equipment, Appliances and Components)
  •     "Business is still very robust. Have continued to hire to match increased demand."
     (Computer and Electronic Products)
  •     "Business [is] steady; not great, but good and fairly solid."
     (Furniture and Related Products)
  •     "Business globally continues to show improvement."
     (Chemical Products)
  •     "Environmental regulations have strong effects on our business. We continue to watch for any changes as a result of the new administration."
     (Paper Products)
  •     "Dry weather helping demand."
     (Nonmetallic Mineral Products)
  •     "International business outside North America on the upswing."
  •     "Metal pricing continues to drag down our profit margins, but we are very busy quoting new business, so our customers have a good outlook on the rest of the year."
     (Fabricated Metal Products)
  •     "Business is strong both domestically and internationally. Supplier deliveries are quick domestically, international supply chain is slowing. We are in a hiring mode."
     (Food, Beverage and Tobacco Products)

Click here to view the complete ISM report

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