ISM: Manufacturing Grows (CONT’D FROM PAGE 1 )
increase of 10 percentage points from the May reading of 32.1 percent. The Supplier Deliveries Index registered 56.9 percent, down 11.1 percentage points from the May figure of 68 percent. “The Inventories Index registered 50.5 percent, 0.1 per- centage point higher than the May reading of 50.4 per- cent. The Prices Index registered 51.3 percent, up 10.5 percentage points compared to the May reading of 40.8 percent. The New Export Orders Index registered 47.6 percent, an increase of 8.1 percentage points compared to the May reading of 39.5 percent. The Imports Index regis- tered 48.8 percent, a 7.5-percentage point increase from the May reading of 41.3 percent. “June signifies manufacturing entering an expected expansion cycle after the disruption caused by the coro- navirus (COVID-19) pandemic. Comments from the panel were positive (1.3 positive comments for every one cau- tious comment), reversing the cautious trend which began in March. The manufacturing sector is reversing the heavy contraction of April, with the PMI increasing month-over- month at a rate not seen since August 1980, with sever- al other indexes also posting gains not seen in modern times. Demand expanded, with the (1) New Orders Index growing at a respectable level, supported by New Export Orders Index contraction softening; (2) Customers’ Inven-
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CONTINUED ON PAGE 42
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