• Analytics
  • News and Tools
  • Market News
  • U.S. manufacturing growth decelerates in June - ISM
Market News
01.07.2019, 14:17

U.S. manufacturing growth decelerates in June - ISM

A report from the Institute for Supply Management (ISM) showed on Monday the U.S. manufacturing sector expanded in June at a slower pace than in May.

The ISM's index of manufacturing activity came in at 51.7 percent last month, down 0.4 percentage point from the May reading of 52.1 percent, but beat economists' forecast for a 51.0 percent reading. That was the lowest reading since October 2016

A reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.

According to the report, the New Orders Index stood at 50 percent, a decline of 2.7 percentage points from the May reading, while the Inventories Index recorded 49.1 percent, a decrease of 1.8 percentage points, and the Supplier Deliveries Index registered 50.7 percent, a fall of 1.3-percentage point. At the same time, the Production Index came in at 54.1 percent in June, a 2.8-percentage point advance compared to the May reading, and the Employment Index was at 54.5 percent, an increase of 0.8 percentage point.

Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee said, “The past relationship between the PMI and the overall economy indicates that the PMI for June (51.7 percent) corresponds to a 2.6-percent increase in real gross domestic product (GDP) on an annualized basis.”

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Live Chat E-mail
Choose your language / location