ISM details
Computer and Electronic Products, Petroleum and Coal Products, Food, Beverage and Tobacco, Primary Metal Paper and Chemical Products reported Growth in the July ISM report.
Contraction was reported in Plastic and Rubber Products, Wood products, Tranportation Equipment, Printing and Related Supports, Electrical Equipment, Appliances and Components, Machinery and Misc. Manufacturing and Fabricated Metal Products.
New Orders were down 4.6%, Inventories fell 6.2% and Customer Inventories fell 8%. Prices dropped 3% and Order backlogs were down 4.5%. Exports, a perceived growth area, dropped 4.5%.
Manufacturing PMI posted the second month of at least a 50 reading but the previouis 4 months were sub 50 readings, indicating contraction.