According to the Manufacturing ISM Report on Business, economic activity in the manufacturing sector expanded in June for the 30th consecutive month, and the overall economy grew for the 73rd consecutive month, say the nation’s supply executives in the latest report.
The June PMI registered 53.5%, an increase of 0.7 percentage point over the May reading of 52.8%. The New Orders Index registered 56%, an increase of 0.2 percentage point from the reading of 55.8% in May. The Production Index registered 54%, 0.5 percentage point below the May reading of 54.5%.
The Employment Index registered 55.5%, 3.8 percentage points above the May reading of 51.7%, reflecting growing employment levels from May at a faster rate. Inventories of raw materials registered 53%, an increase of 1.5 percentage points from the May reading of 51.5%.
Comments from the panel indicate mostly stable to improving business conditions, with the notable exception relating to the oil and gas markets.
Of the 18 manufacturing industries, 11 are reporting growth in June in the following order: Furniture & Related Products; Wood Products; Nonmetallic Mineral Products; Miscellaneous Manufacturing; Food, Beverage & Tobacco Products; Electrical Equipment, Appliances & Components; Transportation Equipment; Fabricated Metal Products; Chemical Products; Paper Products; and Computer & Electronic Products. The four industries reporting contraction in June are: Petroleum & Coal Products; Primary Metals; Plastics & Rubber Products; and Machinery.
Access the full June 2015 Manufacturing ISM Report.