All articles tagged with #institute for supply management
Growth in the US services sector slowed for a second month in March, with the Institute for Supply Management's composite gauge dropping to 51.4, indicating expansion but lower than expected. The gauge of input costs also fell to a four-year low, largely due to a record low in the supplier deliveries index.
US manufacturing activity contracted for the eighth consecutive month in June, reaching its weakest level in over three years. The Institute for Supply Management's manufacturing gauge fell to 46, indicating shrinking activity, with declines in production, employment, and input prices. The index of new orders contracted for the tenth straight month, while order backlogs shrank. The prolonged stretch of readings below 50 is the longest since 2008-2009. The report reflects weak demand for merchandise and a pullback in manufacturing employment, as Americans limit spending on goods and face the impact of high inflation.