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U.S. manufacturing economic activity expanded in July

Staff Writer |
Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 111th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.

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The July PMI registered 58.1 percent, a decrease of 2.1 percentage points from the June reading of 60.2 percent.

The New Orders Index registered 60.2 percent, a decrease of 3.3 percentage points from the June reading of 63.5 percent. The Production Index registered 58.5 percent, a 3.8 percentage point decrease compared to the June reading of 62.3 percent.

The Employment Index registered 56.5 percent, an increase of 0.5 percentage point from the June reading of 56 percent. The Supplier Deliveries Index registered 62.1 percent, a 6.1 percentage point decrease from the June reading of 68.2 percent.

The Inventories Index registered 53.3 percent, an increase of 2.5 percentage points from the June reading of 50.8 percent.

The Prices Index registered 73.2 percent in July, a 3.6 percentage point decrease from the June reading of 76.8 percent, indicating higher raw materials prices for the 29th consecutive month. ■