The Institute for Supply Management reported that the Manufacturing PMI declined to 46.8% in July, 1.7 percentage points lower than in June, the fourth consecutive month of contraction.
Don’t miss any content from Distribution Strategy Group. Join our list.
Here’s the breakdown of the July PMI:
- New Orders Index: 47.4%, a 1.9 percentage point decrease month-over-month
- Production Index: 45.9%, a 2.6 percentage point decrease month-over-month
- Prices Index: 52.9%, a 0.8 percentage point increase month-over-month
- Backlog of Orders Index: 41.7%, a 0.0 percentage point change month-over-month
- Employment Index: 43.4%, a 5.9 percentage point decrease month-over-month
- Supplier Deliveries Index: 52.6%, a 2.8 percentage point increase month-over-month
- Inventories Index: 44.5%, a 0.9 percentage point decrease month-over-month
- New Export Orders Index: 49.0%, a 0.2 percentage point increase month-over-month
- Imports Index: 48.6%, a 0.1 percentage point increase month-over-month
“U.S. manufacturing activity entered deeper into contraction. Demand was weak again, output declined, and inputs stayed generally accommodative,” said Timothy R. Fiore, ISM Chairman.
The five manufacturing industries reporting growth in July were:
- Printing & Related Support Activities
- Petroleum & Coal Products
- Miscellaneous Manufacturing
- Furniture & Related Products
- Nonmetallic Mineral Products
