Manufacturing steady in July

According to the Institute for Supply Management’s (ISM) July Report on Business, economic activity in the manufacturing sector was unchanged during the month, although both new orders and inventories contracted, the group said. ISM’s PMI is a composite index based on seasonally adjusted levels of five indicators—new orders, production, employment, supplier deliveries and inventories. According to ISM, the manufacturing economy is generally expanding when the index is above 50% and declining when it falls below 50%. July’s PMI was exactly 50%, a slight decrease from the 50.2% measured in June. "In this month's ...

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November 2009

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