ISM Shows Manufacturing Activity Surged Higher in July

Before you go, we thought you'd like these...
Before you go close icon

robotsThe Institute for Supply Management reported its purchasing managers index (PMI) for the month of July showing a handy gain. The index rose 1.8 points to 57.1% from the 55.3% reported a month ago. Bloomberg was calling for the index to come in only marginally higher at a reading of 56%. What should stand out the most is that this was the single best nationwide manufacturing reading going back to April of 2011.

Friday's ISM Manufacturing report goes along with what was seen from the July gains of the Empire State and Philly Fed readings. And who said America doesn't manufacture anything anymore?

Another boost was a large gain in new orders, which rose to 63.4 in July. That is all the way up from 58.9 in June, making this the best reading for all of 2014. Production rose by 1.2 points to 61.2 in July.

The ISM further went on to show that there was a large gain in employment growth during July. This sub-sector of the PMI report was up 5.4 points from June with a new reading of 58.2. That is the strongest reading in roughly three years.

Some of the other issues seen in the report were as follows:

  • Delivery times slowed.
  • Inventories were lower.
  • Backlog saw a small drop.
  • Input prices accelerated only moderately.

ALSO READ: The 10 Most Oil-Rich States


Filed under: Economy
Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners