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ISM
Economic expansion for 12
Suppliers struggle to meet increasing demand
Lead times longest since 1987
Prices highest since 2008
Wide-scale shortages of critical basic materials
Difficulties in transporting products
Short-term shutdowns due to part shortages
Exports and imports growing
While the economy is expanding, manufacturers continue to struggle with workforce shortages, limited supplies and the largest order backlog since 1993. Economic activity in the manufacturing sector grew in May, with the overall economy notching a 12th consecutive month of growth, say the nation s supply executives in the latest Manufacturing ISM Report on Business.
The Manufacturing PMI, or the Purchasing Managers’ Index, is a set of economic indicators based off surveys of private-sector companies. The report was issued June 1 by Timothy R. Fiore, chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee.
Written by rjs, MarketWatch 666First quarter GDP revision; April s personal income and outlays, durable goods, and new home salesThe key economic releases of the past week were the second estimate of 1st quarter GDP from the Bureau of Economic Analysis and the April report on Personal Income and Spending, also from the BEA, a report which provides 23% of 2nd quarter GDP.