July ISM Preview
The July ISM Manufacturing Index is expected to fall to 49.0 from 50.2 in May. The June New Orders Index dropped to 49.6 from 49.7, the Shipments Index grew to 51.5 from 51.2 and the Employees Index declined to 43.7 from 45.5 in May.
The Prices Paid Index grew to 91.5 in June from 87 in May, the Inventories Index rose to 51.2 from 48, and the Backlogs Index increased to 47.5 from 46.
After posting a reading over 50 in May for the first time in June, ISM looks set to come in below that level again in July. However, the index still is above normal recessionary levels.
In Regional FED data, New York and Chicago indices beat expectations, but the Philadelphia index was lower than consensus.
July Empire State FED Index: -4.9 vs. -8.7 prior
New Orders: 8.3 vs. -5.5 prior
Prices Paid: 77.9 vs. 66.3 prior
Employment: -6.3 vs. 1.2 prior
July Philly FED Index: -16.3 vs. -17.1 prior
New Orders: -12.1 vs. -12.4 prior
Prices Paid: 75.6 vs. 69.3 prior
Employment: -7.3 vs. -6.9 prior
July Chicago PMI: 50.8 vs 49.6 prior
New Orders: 53.5 vs. 52 prior
Prices Paid: 90.7 vs. 85.5 prior
Employment: 45.9 vs. 46.7 prior