
US manufacturing activity rebounded in June from a contraction in May, but remained lackluster, according to a closely watched report released Monday. The Institute for Supply Management (ISM) said its purchasing managers index for manufacturing rose to 50.9 in June, up 1.9 points from May\'s contraction-territory level of 49. A PMI reading above 50 indicates expansion, while one below reflects contraction. Of the 18 manufacturing industries surveyed, 12 reported growth. \"Comments from the panel generally indicate slow growth and improving business conditions,\" said Bradley Holcomb, chair of the survey committee. Manufacturing grew for all but one month in the first half of 2013, according to ISM data. The June rebound was stronger than the 50.5 reading expected by analysts but at just above 50 indicated continuing weakness in the manufacturing sector, which has been bleeding jobs amid a feeble economic recovery. \"The manufacturing sector is recording such modest growth that surveys cannot tell the difference from stagnation,\" said Michael Montgomery of IHS Global Insight. The PMI index on new orders jumped by 3.1 percentage points to 51.9, and the production index surged 4.8 points to 53.4. But in a grim look at manufacturing job prospects, the employment index contracted for the first time since September 2009, by 1.4 points to 48.7. \"Slow growth continues to choke the recovery. We are not out of the woods yet by any stretch of the imagination,\" a chemicals industry representative told ISM.
GMT 09:43 2018 Tuesday ,23 January
Global unemployment down but working poverty rampantGMT 15:13 2018 Sunday ,21 January
All you need to know about Davos 2018GMT 22:33 2018 Saturday ,20 January
Calls for action over dirty money flowingGMT 04:42 2018 Saturday ,20 January
Storm caused 90 mn euros in damage: Dutch insurersGMT 07:06 2018 Friday ,19 January
China economy rebounds in 2017 with 6.9% growthGMT 11:35 2018 Thursday ,18 January
'Massive' infrastructure spending needed in AfricaGMT 14:29 2018 Wednesday ,17 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 18:55 2018 Tuesday ,16 January
London stock market edges to new high

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor