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Industry News
American manufacturing index drops dramatically in July

The Institute for Supply Management says the July Purchasing Managers Index dropped to 50.9 percent in July, the lowest value in more than a year.

Posted on: 8/2/2011
Source: CompositesWorld

The Institute for Supply Management (ISM, Tempe, Ariz., USA) on Aug. 1 reported that economic activity in the U.S. manufacturing sector expanded in July 2011 for the 24th consecutive month, and the overall economy grew for the 26th consecutive month. ISM's Purchasing Managers Index (PMI) registered 50.9 percent, following a June value of 55.3 percent. A reading of more than 50 percent indicates that the manufacturing economy is generally expanding; less than 50 percent indicates that it is generally contracting.

The report was issued by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey Committee. “The PMI registered 50.9 percent, a decrease of 4.4 percentage points, indicating expansion in the manufacturing sector for the 24th consecutive month, although at a slower rate of growth than in June. Production and employment also showed continued growth in July, but at slower rates than in June. The New Orders Index registered 49.2 percent, indicating contraction for the first time since June of 2009, when it registered 48.9 percent. The rate of increase in prices slowed for the third consecutive month, dropping 9 percentage points in July to 59 percent. In the last three months combined, the Prices Index has declined by 26.5 percentage points, dropping from 85.5 percent in April to 59 percent in July. Despite relief in pricing, however, several comments suggest a slowdown in domestic demand in the short term, while export orders continue to remain strong.”

12-month ISM Manufacturing Index history (percent):

  • July 2010: 50.9
  • June 2011: 55.3
  • May 2011: 53.5
  • April 2011: 60.4
  • March 2011: 61.2
  • February 2011: 61.4
  • January 2011: 60.8
  • December 2010: 57.0
  • November 2010: 56.6
  • October 2010: 56.9
  • September 2010: 54.4
  • August 2010: 56.3
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