Exports continue solid growth in August

September 4, 2017 – Economic activity in the manufacturing sector expanded in August, and the overall economy grew for the 99th consecutive month, according to the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

New export orders grew for the 18th consecutive month but at a slower rate compared to July, notching a 55.5 in August, just off the pace of the 57.5 percent reported for July. Any number of 50 or above indicates growth.

Export Abroad

“Despite concerns of a contraction in August, exports continue to move ahead,” said Fred Baehner, IBNewsmag Publisher. “An expanding world economy along with a continued drop in the dollar versus many foreign currencies, have combined to bolster our exports.”

ISM®’s Imports Index registered 54.5 percent in August, a decrease of 1.5 percentage points when compared to the 56 percent reported for July, indicating that imports are growing in August for the seventh consecutive month but at a slower rate compared to July.

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