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.
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.
