Economic activity in the manufacturing sector expanded in June following
one month of contraction, and the overall economy grew for the 49th
consecutive month, said the nation's supply executives in the latest
Manufacturing ISM Report on Business. The PMI registered 50.9 percent,
an increase of 1.9 percentage points from May's reading of 49 percent,
indicating expansion in the manufacturing sector for the fifth time in
the first six months of 2013. The new orders Index increased in June by
3.1 percentage points to 51.9 percent, and the Production Index
increased by 4.8 percentage points to 53.4 percent. The Employment Index
registered 48.7 percent, a decrease of 1.4 percentage points compared
to May's reading of 50.1 percent. Manufacturing employment contracted
for the first time since September 2009, when the index registered 47.8
percent. The Prices Index registered 52.5 percent, increasing 3
percentage points from May, indicating that overall raw materials prices
increased from last month. Comments from the panel generally indicate
slow growth and improving business conditions.
Source by Commodity Insights
No comments:
Post a Comment