Manufacturing output in June shows improvement but falls short of growth, reports ISM

Manufacturing activity fell for the fourth consecutive month in June, according to the new edition of the Manufacturing Report on Business, which was issued today by the Institute for Supply Management (ISM).

The report’s benchmark reading, the PMI, came in at 49.0 (a reading of 50 or higher indicates growth), up 0.5% from May’s 48.5 reading, which was off 0.2% from April’s 48.7 reading. The last four months of declines were preceded by gains, with January and February readings at 50.9 and 50.3, respectively, and were preceded by 26 months of declines. ISM added that the overall economy remained in expansion mode for the 62^nd consecutive month.

The June PMI topped the 12-month average of 48.6. January’s 50.9 and October’s 46.9 mark the respective high and low readings for that period.

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