Karim writes:

Weak, with employment holding steady and orders and shipments lower. At odds with much of the recent hard data for other sectors and other surveys (consumer surveys, NFIB,etc).

As mentioned, manufacturing hasn’t contributed to job growth for the past 2mths.

Should receive a boost from the automakers not shutting down as usual this summer.

ISM graph



May April
Index 49.0 50.7
New Orders 48.8 52.3
Production 48.6 52.3
Employment 50.1 50.2
Supplier Delvs 48.7 50.9
Inventories 49.0 46.5
Prices 49.5 50.0
Backlog orders 48.0 53.0
Exports 51.0 54.0
Imports 54.5 55.0