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Manufacturing hits highest level in 12 months, reports ISM

In its monthly Manufacturing Report on Business, ISM reported that the report’s key metric, the PMI, came in at 54.2 (a reading of 50 or higher indicates growth), for a 1.6% gain over June’s 52.6, with June snapping a three-month stretch of PMI declines. The July PMI also represents the highest PMI reading over the last 12 months and is 5.6% higher than the 12-month average of 48.6. ISM also reported that the overall economy grew for the third straight month in July, following a decline in April, which snapped a stretch of 131 consecutive months of economic expansion.
Source: logistics Mgmt

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