Strong Manufacturing Growth in June

Strong Manufacturing Growth in June

ISM Data Shows US Manufacturing Expanded More than Forecast

ISM Report Shows Strong Manufacturing Growth In June.

Bloomberg News (7/2, Golle) reports that the ISM data shows that “US manufacturing expanded more than forecast last month as a gauge of supplier-delivery times shot up amid robust orders and production.” Bloomberg quotes ISM Business Survey Committee Chairman Timothy Fiore on the survey data, saying, “Lead-time extensions, steel and aluminum disruptions, supplier labor issues and transportation difficulties continue. Demand remains robust, but the nation’s employment resources and supply chains continue to struggle. Respondents are overwhelmingly concerned about how tariff related activity is and will continue to affect their business.” Reuters (7/2, Mutikani) writes that “manufacturers were ‘overwhelmingly’ concerned about the impact of tariffs imposed by the Trump administration on a range of imported goods including steel and aluminum,” according to the ISM report. MarketWatch (7/2, Bartash) reports that “American manufacturers grew in June at the fastest pace in four months.” It also quotes Pantheon Macroeconomics Chief Economist Ian Shepherdson summarizing the ISM report, saying, “In one line: Strong growth, but supply chains are stretched.” The AP (7/2, Wiseman) reports that “seventeen of 18 manufacturing industries reported growth last month, led by textile mills and makers of wood products.” The Wall Street Journal (7/2, Nunn, Subscription Publication) also reports.
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  • 3 July 2018
  • Author: Cynthia
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