The further rise in the ISM manufacturing index to 54.2 in July, from 52.6, suggests that output continued to rebound last month. Given that the recovery in production has lagged behind the recovery in sales, however, this doesn’t necessarily tell us much about the potential slowdown in consumption linked to the renewed wave of coronavirus infections.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.