June’s ISM report illustrates the ongoing momentum in the manufacturing sector. With the PMI® at 53.5%, economic activity in the manufacturing sector expanded for the 30th consecutive month, and the overall economy grew for the 73rd consecutive month.
The production and employment indices were up from May. 11 of the 18 manufacturing industries reported growth in June – furniture & related Products; wood products; nonmetallic mineral products; miscellaneous manufacturing; food, beverage & tobacco products; electrical equipment, appliances & components; transportation equipment; fabricated metal products; chemical products; paper products; and computer & electronic products. The furniture sector reported strong growth, perhaps influenced by the strong housing market activity in June.
Our manufacturing clients are generally experiencing another year of growth in 2015. Let’s see where the rest of the year leads us.
Alan Fullerton is a partner with Mirus Capital Advisors. He works with owners of middle-market businesses and can be reached at email@example.com.