Manufacturing index rises in June
Posted By:
Tom Sanderson
Date Posted:
Sunday, July 10, 2011
12:34 PM
The Institute of Supply Management reported that the Purchasing Managers' Index (PMI) increased from 53.5 in May to 55.3 in June. This represents 23 consecutive months of growth. A PMI over 50 indicates growth while a PMI under 50 indicates contraction in the manufacturing sector of the economy. The index reached a low of 32.5 in December 2008 but then recovered more quickly than other areas of the economy and remains one of the brighter spots in the economy today. The vertical bars in the graph represent recessions.
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ISM manufacturing index