Posted August 2, 2021

Manufacturing growth slowed in July

Manufacturing grew for the 14th consecutive month in July, but at a slower pace than in June.

The Institute for Supply Management's monthly index registered 59.5 percent, a decrease of 1.1 percentage points from the June reading of 60.6 percent.

“Business Survey Committee panelists reported that their companies and suppliers continue to struggle to meet increasing demand levels," said Timothy Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee. "As we enter the third quarter, all segments of the manufacturing economy are impacted by near record-long raw-material lead times, continued shortages of critical basic materials, rising commodities prices and difficulties in transporting products. Worker absenteeism, short-term shutdowns due to parts shortages and difficulties in filling open positions continue to be issues limiting manufacturing-growth potential.

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