Economy
August 2, 2022
ISM: US Manufacturing Grew in July
Written by Brett Linton
US manufacturing activity expanded in July, but at a slightly slower pace compared to the month prior, according to the Institute for Supply Management (ISM). Indices for new orders, production, employment, supplier deliveries and prices all contracted in the month of July.
July’s Manufacturing PMI fell to 52.8%, down 0.2 percentage-points compared to June’s reading. This is the lowest PMI figure recorded since June 2020. Despite this decline, the July measure marks the 26th consecutive month of expansion. Any index reading above 50% indicates growth in the manufacturing sector.
