Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 123rd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
PMI® at 51.2%
“The past relationship between the PMI® and the overall economy indicates that the PMI® for July (51.2 percent) corresponds to a 2.5-percent increase in real gross domestic product (GDP) on an annualized basis,”
New Orders, Production, and Employment Growing
Supplier Deliveries Slowing at a Faster Rate;
Raw Materials Inventories Contracting;
Customers’ Inventories Too Low
Prices Decreasing; Exports and Imports Contracting