Updated: 01-Jul-24 10:40 ET
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![](/Common/Images/General/clear.gif) |
Updated: 01-Jul-24 10:40 ET |
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![](http://www.briefing.com/Common/Images/Content/PageContent/EcData/napm.gif)
![](http://www.briefing.com/Common/Images/Content/PageContent/EcData/napmpx.gif)
![](http://www.briefing.com/Common/Images/Content/PageContent/EcData/napmexim.gif)
![](http://www.briefing.com/Common/Images/Content/PageContent/EcData/napmnt.gif)
Highlights
- The June ISM Manufacturing Index checked in at 48.5% (Briefing.com consensus 49.1%) versus 48.7% in May.
- The dividing line between expansion and contraction is 50.0%, so the June reading suggests there was a faster pace of contraction in the manufacturing sector last month.
- This was the third straight month (and 19th out of 20) that economic activity in the manufacturing sector contracted.
Key Factors
- The New Orders Index increased to 49.3% from 45.4%.
- The Prices Index dropped to 52.1% from 57.0%.
- The Employment Index fell to 49.3% from 51.1%.
- The Backlog of Orders Index dipped to 41.7% from 42.4%.
- The Supplier Deliveries Index rose to 49.8% from 48.9%.
- The Production Index decreased to 48.5% from 50.2%.
- The New Export Orders Index dropped to 48.8% from 50.6%.
Big Picture
- The key takeaway from the report is that each component remained in a state of contraction -- except prices, which slowed from the prior month -- signaling a state of subdued activity for the manufacturing sector that fits with a slowing economy.
Category |
JUN |
MAY |
APR |
MAR |
FEB |
Total Index |
48.5 |
48.7 |
49.2 |
50.3 |
47.8 |
Orders |
49.3 |
45.4 |
49.1 |
51.4 |
49.2 |
Production |
48.5 |
50.2 |
51.3 |
54.6 |
48.4 |
Employment |
49.3 |
51.1 |
48.6 |
47.4 |
45.9 |
Deliveries |
49.8 |
48.9 |
48.9 |
49.9 |
50.1 |
Inventories |
45.4 |
47.9 |
48.2 |
48.2 |
45.3 |
Export Orders |
48.8 |
50.6 |
48.7 |
51.6 |
51.6 |
Prices paid (not seas adj) |
52.1 |
57.0 |
60.9 |
55.8 |
52.5 |