Manufacturing Index Registered 52.8% in July
Tempe, AZ, August 1, 2022-The July Manufacturing Purchasing Managers Index (PMI) registered 52.8%, down 0.2 percentage point from the reading of 53% in June, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
This figure indicates expansion in the overall economy for the 26th month in a row after a contraction in April and May 2020. This is the lowest Manufacturing PMI figure since June 2020, when it registered 52.4%.
The New Orders Index registered 48%, 1.2 percentage points lower than the 49.2% recorded in June.
The Production Index reading of 53.5% is a 1.4-percentage point decrease compared to June’s figure of 54.9%.
The Prices Index registered 60%, down 18.5 percentage points compared to the June figure of 78.5%; this is the index’s lowest reading since August 2020 (59.5%).
The Backlog of Orders Index registered 51.3%, 1.9 percentage points below the June reading of 53.2%.
The Employment Index contracted for a third straight month at 49.9%, 2.6 percentage points higher than the 47.3% recorded in June.
The Supplier Deliveries Index reading of 55.2% is 2.1 percentage points lower than the June figure of 57.3%.
The Inventories Index registered 57.3%, 1.3 percentage points higher than the June reading of 56%.
The New Export Orders Index reading of 52.6% is up 1.9 percentage points compared to June’s figure of 50.7%.
The Imports Index grew again in July, up 3.7 percentage points to 54.4% from 50.7 percent in June.
Eleven manufacturing industries reported growth in July, in the following order: apparel, leather & allied products; nonmetallic mineral products; petroleum & coal products; printing & related support activities; computer & electronic products; transportation equipment; machinery; textile mills; primary metals; plastics & rubber products; and electrical equipment, appliances & components. The seven industries reporting contraction in July compared to June, in the following order, are wood products; furniture & related products; paper products; miscellaneous manufacturing; fabricated metal products; food, beverage & tobacco products; and chemical products.