The July ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed that manufacturers and distributors experienced slower growth during June.
The ISA Manufacturer Index decreased to 63.4 in June from 66.0 in May, while the ISA Distributor Index decreased to 66.3 in June from 69.9 in May.
For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction.
“Slower growth as summer begins is not a surprise, as manufacturing facilities often schedule downtime when activity tapers off,” said Bryon Shafer, general manager of ASG Industrial and chair of ISA’s Strategic Information Committee. “Comments from distributor and manufacturer survey participants indicate that the slower trend is expected to continue through July.”