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Economic activity for ISA members decreased in August after having increased the previous month, according to the monthly Economic Indicator Report from the Industrial Supply Association.
The ISA Manufacturers Index decreased from 63.5 percent in July to 61.6 percent in August, while the Distributor Index decreased from 62 percent to 58.6 percent. For each index, a reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.
“This month’s results shows that ISA members are continuing to see business expansion, but at a slightly slower rate than the previous month,” said John Buckley, ISA executive vice president. “This is true for members as a whole and for those members that focus on cutting tools. The ISA Cutting Tools Manufacturer Index for August was at 61.12 percent, compared to 67.5 percent the previous month.”