US manufacturing sector grew in July. Exports and imports show some growth.

August 3, 2020 – According to the latest Institute of Supply Management (ISM) Report On Business, economic activity in the manufacturing sector grew in July with both exports and imports moving up.

Bloomberg mfg

“If you listen to most US media, you would think our entire economy is in shambles,” said IBNewsmag publisher Fred Baehner. “But, with manufacturing recording a 3-month growth-rate, and new export orders and imports recovering in July, there is another side to the story worth noting.”

New export orders recorded a 50.4 reading, up from 47.6 in June. (Any number of 50 or more means growth.) Imports moved up to 53.1 in July, from 48.8 in June.

The ISM national report’s information reflects the entire US, while independent regional notices report on data from their local vicinities. Any of this information should be compared to all other economic data sources when used in decision-making.

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