The Institute for Supply Management’s “Purchasing Managers” Index plunged 3.8 points to 49.7 in June. According to ISM, a level below 50 is consistent with a slight contraction of manufacturing’s growth.
The ISM says that the last time the GDP increased and the PMI decreased, we were leaving the Great Depression.
Read the full article here:
Manufacturing Contracting but Precision Machining Still Strong
Speak Your Mind