Economic activity in the US manufacturing sector expanded in July, and the overall economy grew for the 123rd consecutive month, according to the latest Manufacturing ISM Report On Business.
The July PMI registered 51.2 percent, a decrease of 0.5 percentage point from the June reading of 51.7 percent.
The New Orders Index registered 50.8 percent, an increase of 0.8 percentage point from the June reading of 50 percent.
The Production Index registered 50.8 percent, a 3.3-percentage point decrease compared to the June reading of 54.1 percent.
The Employment Index registered 51.7 percent, a decrease of 2.8 percentage points from the June reading of 54.5 percent.
The Supplier Deliveries Index registered 53.3 percent, a 2.6-percentage point increase from the June reading of 50.7 percent.
The Inventories Index registered 49.5 percent, an increase of 0.4 percentage point from the June reading of 49.1 percent.
The Prices Index registered 45.1 percent, a 2.8-percentage point decrease from the June reading of 47.9 percent.
Of the 18 manufacturing industries, nine reported growth in July, in the following order: wood products; printing and related support activities; furniture and related products; food, beverage and tobacco products; plastics and rubber products; computer and electronic products; textile mills; petroleum and coal products; and chemical products.
The nine industries reporting contraction in July — in the following order — are: apparel, leather and allied products; fabricated metal products; primary metals; nonmetallic mineral products; transportation equipment; paper products; miscellaneous manufacturing; electrical equipment, appliances and components; and machinery.