“The July PMI® registered 56.3 percent, a decrease of 1.5 percentage points from the June reading of 57.8 percent.”- Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee:
Indexes for Inventories and Prices increased, while indexes for New Orders, Production, Employment and Supplier Deliveries decreased somewhat. Manufacturing industries that we serve or are a part of, including Electrical Equipment, Appliances & Components; Fabricated Metal Products; Machinery; Computer & Electronic Products; Miscellaneous Manufacturing; Primary Metals; and Transportation Equipment all reported growth in July.
PMPA’s Business Trends Report has been positive about prospects for manufacturing all year, and this ISM PMI report supports that thinking. June 2017 PMPA Business Trends