ISM: Manufacturing, Economy Grow Again In June 2022
percentage points lower than the 55.1 percent recorded in May. The Production Index reading of 54.9 percent is a 0.7 percentage point increase compared to May’s figure of 54.2 percent. The Prices Index registered 78.5 percent, down 3.7 percentage points compared to the May figure of 82.2 percent. The Backlog of Orders Index registered 53.2 percent, 5.5 percentage points below the May reading of 58.7 percent. “The Employment Index contracted for a second straight month at 47.3 percent, 2.3 percentage points low- er than the 49.6 percent recorded in May. The Supplier Deliveries Index reading of 57.3 percent is 8.4 percent- age points lower than the May figure of 65.7 percent. The Inventories Index registered 56 percent, 0.1 percentage point higher than the May reading of 55.9 percent. The New Export Orders Index reading of 50.7 percent is down 2.2 percentage points compared to May’s figure of 52.9 percent. The Imports Index climbed into expansion territo- ry, up 2 percentage points to 50.7 percent from 48.7 percent in May.
Economic activity in the manufacturing sector grew in June, with the overall economy achieving a 25th consec- utive month of growth, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. The report was issued last week by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee: “The June Manufacturing PMI registered 53 percent, down 3.1 percentage points from the reading of 56.1 per- cent in May. This figure indicates expansion in the overall economy for the 25th month in a row after a contraction in April and May 2020. This is the lowest Manufacturing PMI reading since June 2020, when it registered 52.4 per- cent. The New Orders Index reading of 49.2 percent is 5.9
BALEMASTER
“The U.S. manufacturing sector con- tinues to be powered — though less so in June — by demand while held back by sup- ply chain constraints. Despite the Employ- ment Index contracting in May and June, companies improved their progress on ad- dressing moderate-term labor shortages at all tiers of the supply chain, according to Business Survey Committee respondents’ comments. Panelists reported lower rates of quits compared to May. “Prices expansion slightly eased for a third straight month in June, but instability in global energy markets continues. Sen- timent remained optimistic regarding de- mand, with three positive growth comments for every cautious comment. Panelists con- tinue to note supply chain and pricing is- sues as their biggest concerns. Demand dropped, with the (1) New Orders Index contracting, (2) Customers’ Inventories In- dex remaining at a very low level, though it increased and (3) Backlog of Orders Index decreasing but still in growth territory. Con- sumption (measured by the Production and Employment indexes) was mixed during the period, with a combined minus-1.6-percent- age point change to the Manufacturing PMI calculation. “The Employment Index contracted for the second month in a row after expand- ing for eight straight months (September through April), but panelists again indicated month-over-month improvement in ability to hire in June. Challenges with turnover (quits and retirements) and resulting back-
You can count on us. Sustainable
Balemaster’s network of service providers across North America have capabilities ranging from emergency breakdown service to planned maintenance, and more. Combined with our multi-million dollar parts inventory at our Indiana factory, you can see how we’ll keep you maintained – and sustained – at a high level for years to come.
(219) 663-4525 | www. balemaster .com MAKING YOUR BALING PROCESS MORE PROFITABLE.
CONTINUED ON PAGE 12
10 July 11, 2022
www.boardconvertingnews.com
Made with FlippingBook Learn more on our blog