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    July 5, 2022

    ISM: US Manufacturing Grew at a Slower Pace in June

    Written by David Schollaert

    US manufacturing activity expanded at a much slower pace in June than in May. The employment, new orders, and prices paid indexes all fell month-on-month (MoM), according to the Institute for Supply Management (ISM).

    June’s Manufacturing PMI fell to 53%, a 3.1-percentage-point decline compared to a reading of 56.1% in May. The measure came in weaker than the market expectation of 54.9%. The index reading above 50% indicates growth in the manufacturing sector. Despite June’s decline, the measure marks the 25th consecutive month of expansion since the Covid-19 outbreak in the spring of 2020.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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