Economy
July 4, 2017
ISM Manufacturing Survey Shows Gains in June
Written by Sandy Williams
The Manufacturing ISM Report on Business exceeded expectations in June with a PMI reading of 57.8 percent. The composite index jumped 2.9 points for its strongest reading since August 2014, said the Institute for Supply Management, Tempe, Ariz. A reading above 50 indicates growth.
The new orders index strengthened with a 4 point increase to 63.5, while the production index gained 5.3 points to register 62.4. Backlogs grew for the fifth month in a row with the index increasing 2 points to 57. Suppliers struggled to meet increased demand, pushing the supplier delivery index up 3.9 points to 53.1 for a 14th consecutive month of slower deliveries.
