The 2020 Mid-Year Economic Update_long

Manufacturing Sector Expands in July

Manufacturing sector expands for fourteenth consecutive month.

The manufacturing sector grew in July, according to supply executives in the latest Manufacturing ISM Report on Business.

The July PMI was 57.1 percent, an increase of 1.8 percentage points from June's reading of 55.3 percent, indicating expansion in manufacturing for the fourteenth consecutive month. The New Orders Index registered 63.4 percent, an increase of 4.5 percentage points from the 58.9 percent reading in June, indicating growth in new orders. The Production Index registered 61.2 percent, 1.2 percentage points above June.

Employment grew for the thirteenth consecutive month, registering 58.2 percent, an increase of 5.4 percent from June. The Supplier Deliveries Index registered 54.1 percent, 2.2 percentage points above June.

Comments from the panel are generally positive, while some indicate concern over global geopolitical situations.

Of the 18 manufacturing industries, 17 are reporting growth in July in the following order: Furniture & Related Products; Textile Mills; Apparel, Leather & Allied Products; Printing & Related Support Activities; Plastics & Rubber Products; Paper Products; Nonmetallic Mineral Products; Food, Beverage & Tobacco Products; Machinery; Chemical Products; Miscellaneous Manufacturing; Fabricated Metal Products; Electrical Equipment, Appliances & Components; Petroleum & Coal Products; Primary Metals; Transportation Equipment; and Computer & Electronic Products.

The only industry reporting contraction in July is Wood Products.

For more information, visit www.ism.ws.

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