July ISM PMI 54.2 up 1.6 Over June Second Month in a Row in Positive Territory

The July PMI® registered 54.2 percent, up 1.6 percentage points from the June reading of 52.6 percent. This figure indicates expansion in the overall economy for the third month in a row after a contraction in April, which ended a period of 131 consecutive months of growth. “- Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee

This is great news!

July ISM PMI in positive territory for second month in a row.

Of the 18 manufacturing industries, 13 reported growth in July, in the following order: Wood Products; Furniture & Related Products; Textile Mills; Printing & Related Support Activities; Food, Beverage & Tobacco Products; Plastics & Rubber Products; Chemical Products; Apparel, Leather & Allied Products; Computer & Electronic Products; Primary Metals; Petroleum & Coal Products; Miscellaneous Manufacturing; and Electrical Equipment, Appliances & Components.

The New orders, Production , and Backlog of orders indexes  posted increases of 5.1, 4.8, and 6.5 percentage points, respectively.

A welcome and positive sign not only for manufacturing, but the US economy as well.

Manufacturing Optimism!

Chart courtesy Calculated Risk Blog

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