by Calculated Risk on 8/03/2020 10:07:00 AM

The ISM manufacturing index indicated expansion in July. The PMI was at 54.2% in July, up from 52.6% in June. The employment index was at 44.3%, up from 42.1% last month, and the new orders index was at 61.5%, up from 56.4%.

This was close to expectations of 54.0%, but the employment index indicated further contraction.

This suggests manufacturing expanded in July - for the third consecutive month - after the steep collapse in the previous months.