Eleven manufacturing industries in the US reported growth in July, with apparel, leather and allied products reporting the highest growth. As per the latest Manufacturing ISM Report on Business released by the Institute for Supply Management (ISM), textile mills reported the eighth highest growth among the eleven.
The new export orders index reading of 52.6 per cent grew by 1.9 percentage points compared to June's figure of 50.7 per cent. The imports index grew again in July, up by 3.7 percentage points to 54.4 per cent from 50.7 per cent in June. The new orders index registered 48 per cent—1.2 percentage points lower than the 49.2 per cent recorded in June.
The production index reading of 53.5 per cent is a 1.4-percentage point decrease compared to June's 54.9 per cent.
The prices index registered 60 per cent—down by 18.5 percentage points compared to the June figure of 78.5 per cent. This is the index's lowest reading since August 2020 (59.5 per cent).
The backlog of orders index registered 51.3 per cent, 1.9 percentage points below June’s 53.2 per cent.
The supplier deliveries index reading of 55.2 per cent is 2.1 percentage points lower than the June figure of 57.3 per cent. The inventories index registered 57.3 per cent, 1.3 percentage points higher than the June reading of 56 per cent.