Slight Miss: June ISM Manufacturing Comes In At 55.3

Manufacturing activity holds steady.

The Institute for Supply Management’s, or ISM, manufacturing report for June came in at 55.3.

Expectations were for a reading of 55.9. This report was also worse than last month, which came in at 55.4.

Last month’s report, however, was overshadowed by a series of miscues that lead to the headline number being revised three times.

Looking at some of the June report’s internals, prices paid slipped to 58.0 in June from 60 in May, and order backlog fell to 48.0 from 52.5 in May.

New orders increased two points to 58.9 from 56.9 in May, while employment and inventories both were flat.

Here’s a table from ISM giving a full breakdown of the report’s internals.

More to come …

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