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June 2006 Manufacturing ISM Report On Business - PMI at 53.8%

Press release from the issuing company

(Tempe, Arizona) — Economic activity in the manufacturing sector grew in June for the 37th consecutive month, while the overall economy grew for the 56th 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, C.P.M., chair of the Institute for Supply Management Manufacturing Business Survey Committee. "Manufacturing growth continued in June, and although the rate of growth slowed slightly, renewed strength in June's New Orders Index provides encouragement for the third quarter. The sector is benefiting from the weaker dollar and business investment. While energy and raw material prices are still a concern, our members indicate that they are coping with the challenges, and generally see their businesses in a continuing growth mode." TOP PERFORMING INDUSTRIES The 14 industries reporting growth in June — listed in order — are: Petroleum; Miscellaneous*; Tobacco; Instruments & Photographic Equipment; Furniture; Chemicals; Wood & Wood Products; Paper; Primary Metals; Industrial & Commercial Equipment & Computers; Fabricated Metals; Food; Transportation & Equipment; and Electronic Components & Equipment. WHAT RESPONDENTS ARE SAYING ... "New orders have increased and many are from new customers." (Chemicals) "Sales were off the mark in May, which changed the direction of the year as the first four months were extremely positive." (Fabricated Metals) "Business activity in the construction industry has slowed down considerably." (Glass, Stone & Aggregate) "General conditions remain strong." (Paper) "Trucking is getting tighter, and we are spending a lot of time trying to find carriers to pick up loads in a timely manner." (Transportation & Equipment)

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