Manufacturing Sector Expanded for 13th Consecutive Month

Economic activity in the manufacturing sector expanded in June for the 13th consecutive month, and the overall economy grew for the 61st consecutive month, according to the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

The report was issued July 1 by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee.

The Production Index registered 60 percent, 1 percentage point below the May reading of 61 percent.

Employment grew for the 12th consecutive month, registering 52.8 percent, the same level of growth as reported in May.

I ventories of raw materials remained at 53 percent, the same reading as reported in both May and April.

The price of raw materials grew at a slower rate in June, registering 58 percent, down 2 percentage points from May.

Of the 18 manufacturing industries, 15 are reporting growth in June.

Category: Featured, General Update