September 1, 2021 – According to the nation’s supply executives in the latest Manufacturing Institute for Supply Management (ISM) Report On Business, economic activity in the manufacturing sector grew in August, with the overall economy recording a 15th consecutive month of growth.
The ISM New Export Orders Index registered 56.6 percent in August, up 0.9 percentage point compared to the July reading of 55.7 percent. “The New Export Orders Index grew for the 14th consecutive month, at a slightly faster rate compared to July,” said Timothy R. Fiore, Chair of the ISM.
ISM’s Imports Index registered 54.3 percent in August, an increase of 0.6 percentage point compared to July’s figure of 53.7 percent. “Imports expanded for the 14th consecutive month, at a somewhat faster rate compared to July, reflecting continuing challenges with throughput at US ports of entry,” Mr. Fiore concluded.
“Despite supply chain bottlenecks, in the Heartland 9-state region, trade numbers were solid for the month,” saidCreighton University’s Ernie Goss, PhD. “The new export orders index expanded to a very healthy 64.7 from July’s 63.9. Supply bottlenecks pushed the August import reading to a lower 52.4 from 65.3 in July.”