May exports slip some, but remain strong

June 6, 2018 – According to the Institute of Supply Management (ISM), the May New Export Orders Index slipped to 55.6 percent, a decrease of 2.1 percentage points when compared to the 57.7 percent reported for April, indicating growth in new export orders for the 27th consecutive month.

Export cargo vessel

Fred Baehner, IBNewsmag Publisher said, “The good news is that exports of manufactured goods continued to show growth in spite of the mounting strength of the dollar.” Any reading above 50.0 indicates growth.

ISM’s Imports Index registered 54.1 percent in May, a decrease of 3.7 percentage points when compared to the 57.8 percent reported for April, indicating that imports grew in May for the 16th consecutive month. “Imports continued to expand to support production demand, but at slower expansion rates,” said Timothy Fiore, Chair of the ISM Manufacturing Business Survey Committee.

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