The ISM manufacturing index indicated expansion in July. The PMI was at 54.2% in July, up from 52.6% in June. The employment index was at 44.3%, up from 42.1% last month, and the new orders index was at 61.5%, up from 56.4%.
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Here is a long term graph of the ISM manufacturing index.
This was close to expectations of 54.0%, but the employment index indicated further contraction.
This suggests manufacturing expanded in July – for the third consecutive month – after the steep collapse in the previous months.