July Manufacturing Shows Recovery Glimmer

摘要

New orders for manufactured products jumped in July, carrying production along for the ride, according to the latest data from the Institute for Supply Management (ism.ws). The PMI index in July rose 1.1 points to 48.9%, ISM reported. New Orders were up 6.1 points to 55.3%. Production reached 57.9%, up 5.4 points. The trends suggest the full recovery will be complete by the third quarter, an ISM spokesman said. A PMI reading above 50% indicates the manufacturing economy is generally expanding.rnDuring the month, inventories rose 2.7 points to 33.5%, as manufacturers began to backfill depleted stocks.