United States: ISM manufacturing index decreases slightly in July
August 2, 2021
The Institute for Supply Management (ISM) manufacturing index ticked down to 59.5 in July from 60.6 in June, nevertheless the index remained well-above the 50-threshold that separates expansion from contraction in the manufacturing sector.
July’s slightly weaker expansion was the result of slower growth in new orders and production. That said, employment levels increased robustly relative to the previous month. On the price front, input prices continued to rise on the back of higher raw material prices but at a slower rate compared to the month prior.
Author: Steven Burke, Economist