Manufacturing and exports grew at a slower pace in June

July 1, 2019 – Economic activity in the manufacturing sector and new export orders grew slower in June, while the overall economy grew for the 122nd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

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“Growth in manufacturing grew for the 34th consecutive month in June,” said Fred Baehner, Publisher of IBNewsmag, “as exports notched a slower growth rate at 50.5 percent compared to 51.0 percent in May,” as reported today by the Institute For Supply Management (ISM).

Imports rose 0.6% in June to a reading of 50.0 percent, compared to the May reading of 49.4 percent.

Here are 3 comments from respondents to the June ISM survey:

“Business has slowed in the last 30 to 60 days. The last 30 days have tracked 4 percent below plan, but still 6 to 8 percent above the previous year to date.” (Miscellaneous Manufacturing)
“Global demand remains very strong. [We] shifted shipments to China from our U.S. plants to our Canadian and European plants because of tariffs.” (Food, Beverage & Tobacco Products)
“Demand for the remainder of 2019 has softened significantly, due to issues in the aerospace industry. The 2020 outlook is looking stronger. Overall, state and local economies remain strong.” (Transportation Equipment)

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