ISM PMI points to continued weakness of US manufacturing in July
1 August, 2012, 22:14. Posted by Zarathustra
The ISM manufacturing report shows that manufacturing in the US continues to slow in July.
The headline manufacturing PMI increased slightly from 49.7 to 49.8, but missed estimate of 50.2, the second consecutive month of sub-50 reading. This point to continued weakness in the manufacturing sector.
The one number which stands out for July is inventories, which increased by 5.0 to 49.0. With new orders increased very slightly from 47.8 to 48.0, that brings new order less inventories measure to negative territory, the first time since September 2011. Employment is also down very significantly from 56.6 to 52.0.
Source: ISM
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About Zarathustra
Zarathustra: Founder and Managing Editor of Also sprach Analyst. Once an analyst, now an investor and entrepreneur. Based in Hong Kong, but Londoner at heart.