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Factory Slump Reaches U.S.
Keywords:
The Institute of Supply Management's Index of manufacturing activity declined to 49.7 for June from 53.5 in May. Figures below 50 indicate contraction in manufacturing activity. The measure for new orders declined rapidly falling to 47.8 from 60.1. New export orders dropped to 47.5 from 53.5. This shows that the slowdown in China and Europe is now reaching the U.S. with slowing exports and new orders. At the same time auto sales are growing, with auto sales up 26% in May 2012. GM's auto sales were up 16% in June, Ford's 7%, Toyota 60% and Honda 49%. Auto sales were at an annualized pace of 14.1 million in June 2012, showing that this sector is holding up.
The Institute of Supply Management (ISM) surveys on manufacturing orders in the U.S.
06/01/2012
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The Institute of Supply Management Index for U.S. manufacturing and the Markit Purchasing Management Index for Eurozone manufacturing in June 2012
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Linked Articles
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