Economic activity in the US manufacturing sector contracted in June for the eighth consecutive month following a 28-month period of growth, according to the latest Manufacturing ISM Report On Business.
The June Manufacturing PMI registered 46 percent, 0.9 percentage point lower than the 46.9 percent recorded in May. Regarding the overall economy, this figure indicates a seventh month of contraction after a 30-month period of expansion. Index breakdown:
Index | June level | May level |
New Orders | 45.6 | 42.6 |
Production | 46.7 | 51.1 |
Prices | 41.8 | 44.2 |
Backlog of Orders | 38.7 | 37.5 |
Employment | 48.1 | 51.4 |
Supplier Deliveries | 45.7 | 43.5 |
Inventories | 44 | 45.8 |
New Export Orders | 47.3 | 50 |
Imports | 49.3 | 47.3 |
The four manufacturing industries that reported growth in June are: printing and related support activities; nonmetallic mineral products; primary metals; and transportation equipment.
The 11 industries reporting contraction in June, in the following order, are: plastics and rubber products; wood products; textile mills; chemical products; miscellaneous manufacturing; electrical equipment, appliances and components; computer and electronic products; paper products; fabricated metal products; food, beverage and tobacco products; and machinery.