Manufacturing PMI® at 46.4%; July 2023 Manufacturing ISM® Report On Business®
TEMPE, Ariz., Aug. 1, 2023 /PRNewswire/ -- Economic activity in the manufacturing sector contracted in July for the ninth consecutive month following a 28-month period of growth, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.
- The Employment Index dropped further into contraction, registering 44.4 percent, down 3.7 percentage points from June's reading of 48.1 percent.
- "The Supplier Deliveries Index figure of 46.1 percent is 0.4 percentage point higher than the 45.7 percent recorded in June.
- In the last eight months, the Supplier Deliveries Index has recorded its eight lowest readings since March 2009 (43.2 percent).
- Fiore continues, "The U.S. manufacturing sector shrank again, but the uptick in the PMI® indicates a marginally slower rate of contraction.