Economic activity in the manufacturing sector expanded in July for the twelfth consecutive month, and the overall economy grew for the fifteenth consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The report was issued by Norbert J. Ore, CPSM, C.P.M., chair of the Institute for Supply Management Manufacturing Business Survey Committee. "Manufacturing continued to grow during July, but at a slightly slower rate than in June. Employment, supplier deliveries and inventories improved during the month and reduced the impact of a month-over-month deceleration in new orders and production. July marks 12 consecutive months of growth in manufacturing, and indications are that demand is still quite strong in 10 of 18 industries. The prices that manufacturers paid for their inputs were slightly higher but stable, with only a few items on the short supply list."
Performance by industry
Ten of the 18 manufacturing industries are reporting growth in July, in the following order: Plastics and Rubber Products; Miscellaneous Manufacturing; Paper Products; Electrical Equipment, Appliances and Components; Transportation Equipment; Primary Metals; Textile Mills; Computer and Electronic Products; Fabricated Metal Products; and Chemical Products. The four industries reporting contraction in July are: Nonmetallic Mineral Products; Furniture and Related Products; Food, Beverage and Tobacco Products; and Machinery.
|Manufacturing at a glance
|Customers' Inventories||39.0||38.0||+1.0||Too Low||Slower||16|
|Backlog of Orders||54.5||57.0||-2.5||Growing||Slower||7|
*Number of months moving in current direction
Commodities reported up/down in price and in short supply
Commodities up in price:
Capacitors; Corrugated Containers (5); Paper; Pulp; Steel* (13); and Titanium.
Commodities down in price:
Machined Steel Parts; Polyethylene, Polypropylene Resins (2); and Steel*.
Commodities in short supply:
Capacitors; Electrical Components; and Titanium Dioxide.