ISM Manufacturing Index Highest in 3 Years - Real Time Insight


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The U.S. ISM Manufacturing Index rose to 57.1% in July, from 55.3% in June, ahead of the consensus estimate of 56.0%. This is the index's highest reading since April 2011, thanks to surge in its new orders and employment components.

Here are further details from the report:

·          The New Orders Index jumped 4.5%% to 63.4%
·          The Production Index increased by 1.2% to 61.2%
·          The Employment Index surged to 58.2%, up 5.4%
·          Inventories decreased by 4.5% to 48.5%

Per ISM, comments from the panel were generally positive, while some indicated concern over global geopolitical situations.

The report confirms that the U.S. manufacturing activity has maintained its positive momentum. While inventory build was one of the major factors in second quarter GDP growth, this report suggests that those inventories are now being drawn down.

The stock market is edging lower this morning after the mixed jobs report. Will the strong manufacturing report have any impact on the market today?

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