Manufacturing Sector Expanded in June

The ISM Manufacturing Index registered 57.8 points in June, up 2.9 percentage points from the previous month, according to the Institute for Supply Management. June’s reading indicates a tenth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, fifteen reported growth, while three reported contraction. Nine of the ten index components grew, while the inventories index was the only to contract.

The Employment Index increased 3.7 points to 57.2 in June, indicating expansion for the ninth consecutive month. Fourteen industries reported expansion, while two reported a decrease in employment.

The New Orders Index grew 4.0 points to 63.5 in June, indicating growth for the tenth consecutive month. Fifteen industries reported expansion, while three reported a decrease in employment.

Export orders increased 2.0 points to 59.5, indicating growth for the sixteenth consecutive month. Twelve industries reported growth while only one of the eighteen reported a decrease in new export orders.

The inventories index registered 49.0 points, down 2.5 points from the previous month. Six industries reported higher inventories, while six reported a decrease.

Read the ISM release.