Dark Mode
Friday, 29 March 2024
ePaper   
Logo
US manufacturing growth slows in June: survey

US manufacturing growth slows in June: survey

International Desk

American manufacturing growth slowed in June as new orders contracted, even though price increases showed signs of slowing, according to an industry survey released Friday.

The Institute for Supply Management said its manufacturing index fell to 53 percent from 56.1 percent in May, showing growth slowed significantly even though it stayed above the 50-percent threshold indicating expansion for the 25th consecutive month.

That was the lowest level for the index since June 2020 during the pandemic downturn.

Prices showed signs of easing, but the drop in the overall index reflected new orders entering contraction territory, falling a whopping 5.9 points to 49.2 percent, the report said.

Draconian Covid-19 regulations in China and Russia's war in Ukraine have been exacerbating shortages experienced in recent months of the pandemic recovery, fueling the global inflation surge.

However, the ISM survey showed the prices index fell for the third straight month to a still-high 78.5 percent in a sign pressures may be easing as the Federal Reserve raises interest rates aggressively to tamp down inflation.

The prices index has been above 70 percent in 18 of the past 19 months.

But Fiore cautioned that supply chain issues and "instability in global energy markets" were weighing on manufacturers.

 

Comment / Reply From

Vote / Poll

ফিলিস্তিনের গাজায় ইসরায়েলি বাহিনীর নির্বিচার হামলা বন্ধ করতে জাতিসংঘসহ আন্তর্জাতিক সম্প্রদায়ের উদ্যোগ যথেষ্ট বলে মনে করেন কি?

View Results
হ্যাঁ
0%
না
0%
মন্তব্য নেই
0%

Archive

Please select a date!