United States PMI July 2020

United States

United States: ISM manufacturing index continues to rise in July

August 3, 2020

The Institute for Supply Management (ISM) manufacturing index increased from 52.6 in June to 54.2 in July, beating market expectations of 53.6 and marking the highest reading since March 2019. Consequently, the index moved further above the 50-threshold that separates expansion from contraction in the manufacturing sector.

July’s result was driven by strong expansions in production and new orders, while employment improved slightly—but continued to point to a deterioration. Moreover, new export orders and backlogs of work rebounded in July relative to June.

FocusEconomics Consensus Forecast panelists expect industrial production to decline 9.3% in 2020, which is down 0.1 percentage points from last month’s forecast. In 2021, panelists see industrial production rising 5.3%.

Author:, Economist

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United States PMI Chart

United States PMI July 20 20

Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.
Source: Institute for Supply Management.

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