Both exports and imports show sustained growth through June

July 5, 2017 – The Institute of Supply Management’s (ISM) New Export Orders Index soared to 59.5 percent in June, an increase of 2 percentage points when compared to the 57.5 percent reported for May, indicating growth in new export orders for the 16th consecutive month.

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“Continued declines in the dollar and expanding global economic conditions have supported a sustained surge in export orders,” according to Ernie Goss, Ph.D. Creighton University Jack MacAllister Chair in Regional Economics.

Imports grew faster as well, registering 54.0 in June over the previous month’s reading of 53.5.

Correlating with the boost in exports, overall economic activity in the manufacturing sector expanded in June, and the overall economy grew for the 97th consecutive month, according to the latest ISM’s Manufacturing Report On Business.

IBNewsmag publisher, Fred Baehner, said, “Sixteen straight months of export growth is really remarkable. This, along with the weakening dollar, indicates an improving world economy allowing foreign buyers to seek the higher quality products coming out of America.”

The 12 industries reporting growth in new export orders in June — listed in order — are: Wood Products; Machinery; Furniture & Related Products; Primary Metals; Food, Beverage & Tobacco Products; Electrical Equipment, Appliances & Components; Chemical Products; Transportation Equipment; Paper Products; Fabricated Metal Products; Computer & Electronic Products; and Miscellaneous Manufacturing. The only industry reporting a decrease in new export orders is Apparel, Leather & Allied Products.

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