June manufacturing index falls
The June Manufacturing index from the Institute for Supply Management registered 53 percent, down 3.1 percentage points from the reading of 56.1 percent in May.
While this figure indicates expansion in the overall economy for the 25th month in a row after a contraction in April and May 2020, this is the lowest Manufacturing PMI reading since June 2020, when it registered 52.4 percent.
“The U.S. manufacturing sector continues to be powered — though less so in June — by demand while held back by supply chain constraints," said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee. "Despite the Employment Index contracting in May and June, companies improved their progress on addressing moderate-term labor shortages at all tiers of the supply chain, according to Business Survey Committee respondents’ comments. Panelists reported lower rates of quits compared to May. Prices expansion slightly eased for a third straight month in June, but instability in global energy markets continues. Sentiment remained optimistic regarding demand, with three positive growth comments for every cautious comment."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
