Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 98th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report on Business.
The July PMI registered 56.3%, a decrease of 1.5% from the June reading of 57.8%. The New Orders Index registered 60.4%, a decrease of 3.1%age points from the June reading of 63.5%. The Production Index registered 60.6%, a 1.8% decrease compared to the June reading of 62.4%. The Employment Index registered 55.2%, a decrease of 2% from the June reading of 57.2%.