Manufacturing Sector Expands in June

-- Foodservice Equipment & Supplies, 7/9/2008 11:28:00 AM

Following four consecutive months of decline, the domestic manufacturing sector expanded in June, according to a report from the Institute for Supply Management.

The ISM’s Purchasing Managers Index, or PMI, stood at 50.2 in June, up from May’s level of 49.6. A reading above 50 indicates the sector is expanding, while below 50 signals contraction.

Most of the PMI’s component indices posted improvement in June as well, including the Production, Supplier Deliveries, Inventories, Customers’ Inventories, Prices, and Backlog of Orders Indices. The measures covering new orders, employment exports and imports, however, declined in June.

Purchasing managers listed several commodities as having increased in price during the month of June, including, diesel fuel, natural gas and stainless steel.

The ISM’s June manufacturing report can be found by clicking here. The July report will be available on Aug. 1.