Manufacturing Expands for 24th Straight Month

Tempe, AZ, Aug. 1, 2011 -- Economic activity in the manufacturing sector expanded in July for the 24th consecutive month, and the overall economy grew for the 26th consecutive month, according to the latest Manufacturing ISM Report.

The report from the Institute for Supply Management showed its index registered 50.9 percent, a decrease of 4.4 percentage points, but still indicating expansion.

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.