Economy
August 2, 2018
ISM: Manufacturing Growth Eases in July
Written by Sandy Williams
The Institute for Supply Management’s Manufacturing ISM Report on Business expanded for the 111th month in July. The PMI registered a solid 58.1, although decreasing 2.1 points from the June reading of 60.1 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
New orders slipped 3.3 percentage points in July to 60.2 percent, but remained above 50 percent for the 15th straight month. The production index decreased 3.8 points to 58.5. Backlogs continued to expand, but at a slower pace in July.
