From the Institute for Supply Management: a href=”http://www.ism.ws/ISMReport/MfgROB.cfm?navItemNumber=12942″June 2009 Manufacturing ISM Report On Business®/a blockquoteEconomic activity in the manufacturing sector strongfailed to grow in June for the 17th consecutive month/strong, while the overall economy grew for the second consecutive month following seven months of decline, say the nation’s supply executives in the latest Manufacturing ISM Report On Business®.br /br /The report was issued today by Norbert J. Ore, CPSM, C.P.M., chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. “strongManufacturing continues to contract at a slower rate/strong, but the trends in the indexes are encouraging as seven of 18 industries reported growth in June. Most encouraging is the gain in the Production Index, which is up 12.1 percentage points in the last two months to 52.5 percent. Aggressive inventory reduction continues and indications are that the de-stocking cycle is at or near the end in most industries, as the Customers’ Inventories Index remained below 50 percent for the third consecutive month. The Prices Index was unchanged from May, indicating that the supply/demand balance is improving. Overall, a slow recovery for manufacturing is forming based on the current trends in the ISM data.”br /span style=”font-size:78%;”emphasis added/span/blockquoteAs noted, any reading below 50 shows contraction, although the pace of contraction has slowed.div class=”blogger-post-footer”img width=’1′ height=’1′ src=’https://blogger.googleusercontent.com/tracker/10004977-389628728205441237?l=www.calculatedriskblog.com’//div
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