For the 30th consecutive month, economic activity in the U.S. manufacturing sector continued to expand in the period ending in June of 2015. During the same period, the overall U.S. economy grew for the 73rd consecutive month, according to information recently released in the Manufacturing ISM Report on Business. It also was revealed in the report, issued by the chair of the Institute for Supply Management, Bradley J. Holcomb, that the June PMI registered at 53.5 percent. This represented a 0.7 percentage point increase over the same reading from the previous month. During the same time, the New Orders Index came in at 56 percent, which represented a 0.5 percentage point decrease over the same reading from the previous month. Out of the 18 different industries that make up the manufacturing sector,11 reported growth for the period ending in June 2015. These include but are not limited to markets such as Nonmetallic Mineral Products, Food, Beverage & Tobacco Products, Electrical Equipment, Paper Products, Computer & Electronic Products, and more.
There were only four industries that reported contraction, which included Machinery, Plastics & Rubber Products, Primary Metals, and Petroleum & Coal Products. A large amount of information was revealed by respondents to the survey; Representatives from the Food, Beverage & Tobacco Products industry, for example, revealed Avian flu was not only having a dramatic effect on egg pricing, but also on all items manufactured with eggs. Fabricated Metal Products respondents indicated the automotive industry was strong and is expected to remain so throughout 2015 and beyond. Nonmetallic Mineral Products respondents indicated that not only were most prices stable, but business was stable as well.
Not all of the respondents had good news to share, however. Representatives from the Miscellaneous Manufacturing industry indicated the downturn in the oil and gas markets worldwide was having a significant impact on the overall levels of demand.