Economy
August 1, 2017
July ISM PMI Dips 1.5 Points to 56.3
Written by Sandy Williams
Manufacturing activity in the U.S. expanded in July, though the PMI declined 1.5 percentage points to a reading of 56.3, reports the Institute for Supply Management in its latest Manufacturing ISM Report On Business. The PMI has remained above the neutral 50.0 point for 11 consecutive months indicating growth in manufacturing. Although still at robust levels, the indexes for new orders, production, employment and new export orders slowed in July. The price index jumped to 62.0 from 55.0 in June as raw material prices increased for the 17th month.
Export orders continued to be strong, but decreased 2 percentage points to register 57.5 for the month. Primary metals, fabricated metals, machinery and transportation equipment were among those industries reporting growth in new export orders.
