Updated: 01-Aug-17 10:53 ET
| July ISM Index |
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| Updated: 01-Aug-17 10:53 ET |
Highlights
- The ISM Manufacturing Index slipped to 56.3 in July (Briefing.com consensus 56.2) from 57.8 in June. July marked the 11th consecutive month the index has been 50.0%, which indicates the manufacturing economy is generally expanding.
Key Factors
- The New Orders Index fell from 63.5 to 60.4
- The Production index dropped from 62.4 to 60.6
- The Employment Index decreased from 57.2 to 55.2
- The Inventories Index increased from 49.0 to 50.0
- The Prices Index jumped from 55.0 to 62.0, indicating higher raw materials prices for the 17th straight month
Big Picture
- The key takeaway from the report is that its core components all remain in a growth mode. According to the ISM, if the PMI for July is annualized, it corresponds to a 4.1% increase in real GDP annually.
| Category | JUL | JUN | MAY | APR | MAR |
| Total Index | 56.3 | 57.8 | 54.9 | 54.8 | 57.2 |
| Orders | 60.4 | 63.5 | 59.5 | 57.5 | 64.5 |
| Production | 60.6 | 62.4 | 57.1 | 58.6 | 57.6 |
| Employment | 55.2 | 57.2 | 53.5 | 52.0 | 58.9 |
| Deliveries | 55.4 | 57.0 | 53.1 | 55.1 | 55.9 |
| Inventories | 50.0 | 49.0 | 51.5 | 51.0 | 49.0 |
| Export Orders | 57.5 | 59.5 | 57.5 | 59.5 | 59.0 |
| Prices paid (not seas adj) | 62.0 | 55.0 | 60.5 | 68.5 | 70.5 |
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