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Index: Manufacturing activity contracts in June

by thiryj

Index: Manufacturing activity contracts in June

By Jim T. Ryan

Manufacturing activity in June scored a 49.7 percent on the Arizona-based group’s index, where scores below 50 percent represent a decline in activity and above 50 percent represent a growth period. June’s reading was down 3.8 percentage points from May, according to ISM.

One of the more significant readings on the index was new orders, which dropped 12.3 percentage points in June to indicate declining business in the manufacturing sector, according to ISM.

Although the index reading is unwelcome news for manufacturers, it’s just one month, and the economy will have to be monitored going forward to see if there are any long-term trends, said Rose Marie Goupil, an ISM spokeswoman.

The nine manufacturing industries that contracted in June are:

• Nonmetallic mineral products

• Apparel leather and allied products

• Paper products

• Plastics and rubber products

• Chemical products

• Computer and electronic products

• Petroleum and coal products

• Food, beverage and tobacco products

• Transportation equipment.

The seven industries that grew are:

• Furniture and related products

• Printing and related support activities

• Fabricated metal products

• Miscellaneous manufacturing

• Electrical equipment, appliances and components

• Machinery

• Primary metals.

Courtesy of the Central Penn Business Journal
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