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June 2010 Manufacturing ISM Report On Business; PMI at 56.2%Tuesday, July 06, 2010 Press release from the issuing company Tempe, Arizona - Economic activity in the manufacturing sector expanded in June for the 11th consecutive month, and the overall economy grew for the 14th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The report was issued today by Norbert J. Ore, CPSM, C.P.M., chair of the Institute for Supply Management Manufacturing Business Survey Committee. "The manufacturing sector continued to grow during June; however, the rate of growth as indicated by the PMI slowed when compared to May. The lower reading for the PMI came from a slowing in the New Orders and Production Indexes. We are now 11 months into the manufacturing recovery, and given the robust nature of recent growth, it is not surprising that we would see a slower rate of growth at this time. The sector appears to be solidly entrenched in the recovery. Comments from the respondents remain generally positive, but expectations have been that the second half of the year will not be as strong in terms of the rate of growth, and June appears to validate that forecast." PERFORMANCE BY INDUSTRY WHAT RESPONDENTS ARE SAYING ... COMMODITIES REPORTED UP/DOWN IN PRICE and IN SHORT SUPPLY Commodities Up in Price Commodities Down in Price Commodities in Short Supply Note: The number of consecutive months the commodity is listed is indicated after each item. JUNE 2010 MANUFACTURING INDEX SUMMARIES PMI A PMI in excess of 42 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the PMI indicates growth for the 14th consecutive month in the overall economy, as well as expansion in the manufacturing sector for the 11th consecutive month. Ore stated, "The past relationship between the PMI and the overall economy indicates that the average PMI for January through June (58.5 percent) corresponds to a 5.5 percent increase in real gross domestic product (GDP). In addition, if the PMI for June (56.2 percent) is annualized, it corresponds to a 4.8 percent increase in real GDP annually." New Orders The 13 industries reporting growth in new orders in June - listed in order - are: Plastics & Rubber Products; Petroleum & Coal Products; Primary Metals; Computer & Electronic Products; Fabricated Metal Products; Paper Products; Food, Beverage & Tobacco Products; Nonmetallic Mineral Products; Furniture & Related Products; Printing & Related Support Activities; Transportation Equipment; Chemical Products; and Electrical Equipment, Appliances & Components. Four industries reported decreases in new orders in June: Machinery; Wood Products; Apparel, Leather & Allied Products; and Miscellaneous Manufacturing. Production The 10 industries reporting growth in production during the month of June - listed in order - are: Plastics & Rubber Products; Printing & Related Support Activities; Computer & Electronic Products; Transportation Equipment; Fabricated Metal Products; Food, Beverage & Tobacco Products; Electrical Equipment, Appliances & Components; Furniture & Related Products; Chemical Products; and Machinery. The four industries reporting a decrease in production in June are: Wood Products; Apparel, Leather & Allied Products; Miscellaneous Manufacturing; and Nonmetallic Mineral Products. Employment Ten of the 18 manufacturing industries reported growth in employment in June in the following order: Transportation Equipment; Petroleum & Coal Products; Paper Products; Miscellaneous Manufacturing; Electrical Equipment, Appliances & Components; Furniture & Related Products; Fabricated Metal Products; Printing & Related Support Activities; Food, Beverage & Tobacco Products; and Computer & Electronic Products. The five industries reporting a decrease in employment during June are: Plastics & Rubber Products; Wood Products; Apparel, Leather & Allied Products; Machinery; and Chemical Products. Supplier Deliveries The 11 industries reporting slower supplier deliveries in June - listed in order - are: Plastics & Rubber Products; Miscellaneous Manufacturing; Electrical Equipment, Appliances & Components; Nonmetallic Mineral Products; Machinery; Computer & Electronic Products; Printing & Related Support Activities; Paper Products; Transportation Equipment; Fabricated Metal Products; and Food, Beverage & Tobacco Products. Petroleum & Coal Products is the only industry reporting faster deliveries in June. Inventories The five industries reporting higher inventories in June are: Transportation Equipment; Printing & Related Support Activities; Paper Products; Food, Beverage & Tobacco Products; and Electrical Equipment, Appliances & Components. The eight industries reporting decreases in inventories in June - listed in order - are: Primary Metals; Plastics & Rubber Products; Apparel, Leather & Allied Products; Miscellaneous Manufacturing; Nonmetallic Mineral Products; Machinery; Chemical Products; and Fabricated Metal Products. Customers' Inventories* None of the 18 manufacturing industries reported customers' inventories as being too high during June. The 11 industries reporting customers' inventories as too low during June - listed in order - are: Nonmetallic Mineral Products; Plastics & Rubber Products; Printing & Related Support Activities; Miscellaneous Manufacturing; Paper Products; Machinery; Transportation Equipment; Computer & Electronic Products; Electrical Equipment, Appliances & Components; Chemical Products; and Fabricated Metal Products. Prices* The nine industries reporting paying increased prices during the month of June - listed in order - are: Paper Products; Apparel, Leather & Allied Products; Fabricated Metal Products; Computer & Electronic Products; Furniture & Related Products; Printing & Related Support Activities; Food, Beverage & Tobacco Products; Electrical Equipment, Appliances & Components; and Chemical Products. The six industries reporting paying lower prices on average during June - listed in order - are: Wood Products; Nonmetallic Mineral Products; Miscellaneous Manufacturing; Primary Metals; Machinery; and Transportation Equipment. Backlog of Orders* The nine industries reporting increased order backlogs in June - listed in order - are: Electrical Equipment, Appliances & Components; Plastics & Rubber Products; Computer & Electronic Products; Nonmetallic Mineral Products; Paper Products; Transportation Equipment; Chemical Products; Fabricated Metal Products; and Machinery. The three industries reporting decreases in order backlogs during June are: Apparel, Leather & Allied Products; Miscellaneous Manufacturing; and Printing & Related Support Activities. New Export Orders* The eight industries reporting growth in new export orders in June - listed in order - are: Petroleum & Coal Products; Primary Metals; Paper Products; Computer & Electronic Products; Fabricated Metal Products; Electrical Equipment, Appliances & Components; Chemical Products; and Food, Beverage & Tobacco Products. Four industries reported a decrease in export orders during June: Apparel, Leather & Allied Products; Miscellaneous Manufacturing; Transportation Equipment; and Machinery. Imports* The nine industries reporting growth in imports during the month of June - listed in order - are: Petroleum & Coal Products; Plastics & Rubber Products; Nonmetallic Mineral Products; Transportation Equipment; Fabricated Metal Products; Electrical Equipment, Appliances & Components; Machinery; Chemical Products; and Computer & Electronic Products. The only industry reporting a decrease in imports during June is Miscellaneous Manufacturing. * The Backlog of Orders, Prices, Customers' Inventories, Imports and New Export Orders Indexes do not meet the accepted criteria for seasonal adjustments. Buying Policy
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