United States: ISM manufacturing index decreases slightly in June
July 1, 2021
The Institute for Supply Management (ISM) manufacturing index ticked down to 60.6 in June from 61.2 in May, nevertheless the index remained well-above the 50-threshold that separates expansion from contraction in the manufacturing sector.
June’s slightly weaker expansion was the result of slower growth in new orders, while employment levels dipped relative to the previous month. That said, production volumes increased at a quicker rate in June, compared to the previous month. Moreover, new export orders also rose at a quicker pace. On the price front, input prices continued to rise on the back of higher raw material prices and at a faster rate compared to the month prior.
Author: Steven Burke, Economist