Manufacturing ISM Continues Decline

According to ISM:

Economic activity in the manufacturing sector failed to grow in June for the 17th consecutive month, while the overall economy grew for the second consecutive month following seven months of decline, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.

The details that respondents are reporting:

• "Customer inventory burn is complete and real demand has reappeared." (Machinery)
• "... a lot of people are requoting old business and using favorable pricing to negotiate with their current suppliers." (Computer & Electronic Products)
• "Banks are reluctant to lend to businesses, and until this changes the economy will continue to be weak." (Fabricated Metal Products)
• "Slow June, but firm large orders in July, August and September." (Food, Beverage & Tobacco Products)
• "Market appears to have bottomed out as aftermarket has picked up slightly over the past month." (Transportation Equipment)

Source: ISM