Economy
August 4, 2020
ISM: Manufacturing Expands in July
Written by Sandy Williams
The U.S. manufacturing sector expanded again in July indicating a third consecutive month of growth for the overall economy, said the Institute for Supply Management in the latest Manufacturing ISM Report on Business. The July PMI rose 1.6 points from June to register 54.2.
“The growth cycle continues for the second straight month after three prior months of COVID-19 disruptions. Demand and consumption continued to drive expansion growth, with inputs remaining at parity with supply and demand,” said Timothy Fiore, chairman of ISM’s Manufacturing Business Survey Committee. “Panel sentiment was generally optimistic (two positive comments for every one cautious comment), continuing a trend from June.”
