Last updateTue, 26 May 2020 7pm

Manufacturing & The Economy

ISM: Manufacturing Grew at Slower Rate in July

Manufacturing expanded in July as the PMI registered 58.1%, a decrease of 2.1% from the June reading of 60.2%. “This indicates strong growth in manufacturing for the 23rd consecutive month, led by continued expansion in new orders, production and employment. Inventories are expanding at a faster rate as a result of supplier deliveries improving compared to the prior month,” says Timothy R. Fiore, chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee. “Respondents are again overwhelmingly concerned about how tariff-related activity, including reciprocal tariffs, will continue to affect their business.” 

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