Posted July 2, 2018

Manufacturing expanded in June

Manufacturing expanded in June as the ISM purchasing managers index registered 60.2 percent, an increase of 1.5 percentage points from the May reading of 58.7 percent.

“This indicates strong growth in manufacturing for the 22nd consecutive month, led by continued expansion in new orders, production and employment. The PMI reached its highest level since February 2018, when it reached 60.8 points," said Timothy R. Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee. "However, inventories continue to struggle to maintain expansion levels as a result of supplier deliveries slowing further.”

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.