Purchasing Managers Index Rose to 54.2% in July
Tempe, AZ, August 3, 2020-The July Purchasing Managers Index (PMI) registered 54.2%, up 1.6 percentage points from the June reading of 52.6%, according to ISM. This figure indicates expansion in the overall economy for the third month in a row after a contraction in April, which ended a period of 131 consecutive months of growth.
The New Orders Index registered 61.5%, an increase of 5.1 percentage points from the June reading of 56.4%.
The Production Index registered 62.1%, up 4.8 percentage points compared to the June reading of 57.3%.
The Backlog of Orders Index registered 51.8%, an increase of 6.5 percentage points compared to the June reading of 45.3%.
The Employment Index registered 44.3%, an increase of 2.2 percentage points from the June reading of 42.1%.
The Supplier Deliveries Index registered 55.8%, down 1.1 percentage points from the June figure of 56.9%.
The Inventories Index registered 47%, 3.5 percentage points lower than the June reading of 50.5%.
The Prices Index registered 53.2%, up 1.9 percentage points compared to the June reading of 51.3%.
The New Export Orders Index registered 50.4%, an increase of 2.8 percentage points compared to the June reading of 47.6%.
The Imports Index registered 53.1%, a 4.3-percentage point increase from the June reading of 48.8%.
Of the 18 manufacturing industries, 13 reported growth in July, in the following order: wood products; furniture & related products; textile mills; printing & related support activities; food, beverage & tobacco products; plastics & rubber products; chemical products; apparel, leather & allied products; computer & electronic products; primary metals; petroleum & coal products; miscellaneous manufacturing; and electrical equipment, appliances & components. The three industries reporting contraction in July are transportation equipment; machinery; and fabricated metal products.