News

ISM: U.S. Factories Expand Five Months in a Row

According to the Institute for Supply Management (ISM), manufacturing expanded in July as the PMI registered 52.6%, a decrease of 0.6% from the June reading of 53.2%, indicating growth in manufacturing for the fifth consecutive month (any number over 50% indicates expansion).

Twelve of 18 industries reported an increase in new orders in July (same as in June), and 9 of 18 industries reported an increase in production in July (down from 12 in June). Overall, 11 of 18 manufacturing industries reported growth, led by textile mills.