PMI Shows Slight Slowdown

Economic activity in the manufacturing sector expanded in July for the 12th consecutive month, and the overall economy grew for the 15th consecutive month, although July’s PMI of 55.5 percent was down a bit from June’s reading of 56.2 percent, according to the latest Manufacturing ISM Report On Business from the Institute for Supply Management, Tempe, Ariz.

“Manufacturing continued to grow during July, but at a slightly slower rate than in June,” says Norbert J. Ore, chairman of ISM’s Manufacturing Business Survey Committee. “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, he added, and demand appears quite strong in 10 of 18 industries.

While down from June, July’s PMI of 55.5 percent is still above the 50 percent level that indicates the manufacturing economy is generally expanding.

"The past relationship between the PMI and the overall economy indicates that the average PMI for January through July (58 percent) corresponds to a 5.4 percent increase in real gross domestic product. In addition, if the PMI for July is annualized, it corresponds to a 4.5 percent increase in real GDP annually," Ore adds.

January 2017: Consider the Tradeoffs of Trade Policies, Jobs
More...
 
Pause
January 2017: Conditions Right for M&A
More...
Fall 2016: Cutting & Sawing Equipment
More...
Summer 2016
More...
 
Pause
Behringer Expands VA-L Line of Circular Cold Saws
More...
Hypertherm Increases Power in Powermax45 XP
More...
Marvel Saw Cuts Specialty Metals
More...
KASTO Band Saw Reduces Cutting Times
More...
Messer MetalMaster Delivers Precise Bevels
More...
ASKO’s HXT Knives Cut High-Strength Steels
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Monday, February 20, 2017