Manufacturing Sector Growth Rose in June

The ISM Manufacturing Index registered 60.2 points in June, up 1.5 percentage points from the previous month, according to the Institute for Supply Management. June’s reading indicates the twenty-second consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, seventeen reported growth, while none reported contraction. Nine of the ten index components grew, while the customers’ inventories index contracted.

The Employment Index decreased 0.3 points to 56.0 in June, indicating expansion for the twenty-first consecutive month. Thirteen industries reported expansion, while none reported a decrease in employment.

The New Orders Index decreased 0.2 points to 63.5 in June, indicating growth for the thirtieth consecutive month. Sixteen industries reported expansion, while one reported a decrease in employment.

Export orders increased 0.7 point to 56.3, indicating growth for the twenty-eighth consecutive month. Ten industries reported growth while two reported a decrease in new export orders.

The Inventories Index registered 50.8 points, up 0.6 point from the previous month. Ten industries reported higher inventories, while three reported a decrease.

Read the ISM release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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