US manufacturing sector contracts again in June

Thursday, 06 July 2023 22:11:26 (GMT+3)   |   San Diego
       

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.


Similar articles

PMI in Mexico up 0.7 percent in March

03 Apr | Steel News

New orders for US manufacturing goods up 1.4 percent in February

03 Apr | Steel News

US manufacturing PMI shows expansion for first time in 16 months

01 Apr | Steel News

New orders for US manufactured goods down 3.6 percent in January

05 Mar | Steel News

US manufacturing PMI declines to 47.8 percent in February

01 Mar | Steel News

New orders for US manufactured goods up 0.2 percent in December

02 Feb | Steel News

US manufacturing PMI edges up 2 percentage points in January

01 Feb | Steel News

New orders for US manufactured goods up 2.6 percent in November

05 Jan | Steel News

US manufacturing industry contracts again in December

03 Jan | Steel News

New orders for US manufactured goods down 3.6 percent in October

04 Dec | Steel News