AIRLINK 210.97 Decreased By ▼ -7.01 (-3.22%)
BOP 10.67 Decreased By ▼ -0.26 (-2.38%)
CNERGY 7.41 Decreased By ▼ -0.14 (-1.85%)
FCCL 33.57 Decreased By ▼ -1.26 (-3.62%)
FFL 18.41 Decreased By ▼ -0.91 (-4.71%)
FLYNG 23.62 Decreased By ▼ -1.53 (-6.08%)
HUBC 131.39 Increased By ▲ 0.30 (0.23%)
HUMNL 14.10 Decreased By ▼ -0.46 (-3.16%)
KEL 4.98 Decreased By ▼ -0.20 (-3.86%)
KOSM 7.16 Decreased By ▼ -0.20 (-2.72%)
MLCF 43.76 Decreased By ▼ -1.87 (-4.1%)
OGDC 213.56 Decreased By ▼ -8.52 (-3.84%)
PACE 7.45 Decreased By ▼ -0.71 (-8.7%)
PAEL 41.53 Decreased By ▼ -2.66 (-6.02%)
PIAHCLA 17.47 Decreased By ▼ -0.22 (-1.24%)
PIBTL 8.60 Decreased By ▼ -0.37 (-4.12%)
POWERPS 12.50 Decreased By ▼ -0.01 (-0.08%)
PPL 189.60 Decreased By ▼ -3.41 (-1.77%)
PRL 44.31 Increased By ▲ 1.14 (2.64%)
PTC 24.97 Decreased By ▼ -1.66 (-6.23%)
SEARL 103.37 Decreased By ▼ -3.71 (-3.46%)
SILK 1.03 Decreased By ▼ -0.01 (-0.96%)
SSGC 40.50 Decreased By ▼ -4.50 (-10%)
SYM 19.52 Decreased By ▼ -1.67 (-7.88%)
TELE 9.44 Decreased By ▼ -0.71 (-7%)
TPLP 13.50 Decreased By ▼ -1.01 (-6.96%)
TRG 64.47 Decreased By ▼ -2.81 (-4.18%)
WAVESAPP 10.90 Decreased By ▼ -0.39 (-3.45%)
WTL 1.65 Decreased By ▼ -0.05 (-2.94%)
YOUW 4.21 Decreased By ▼ -0.04 (-0.94%)
BR100 12,163 Decreased By -27.5 (-0.23%)
BR30 36,377 Decreased By -205.6 (-0.56%)
KSE100 116,255 No Change 0 (0%)
KSE30 36,603 No Change 0 (0%)
Business & Finance

US manufacturing slips in June amid industry struggles: survey

  • New orders also fell but production jumped 2.3 points to 60.8 percent, the survey showed.
Published July 1, 2021

WASHINGTON: Activity at US factories continued to expand in June but at a slower pace as industry struggles to meet demand amid supply issues, according to a private survey released Thursday.

Even as the US economic rebound continues, hiccups following the Covid-19 pandemic shutdowns were apparent across sectors, including getting raw materials and finding workers, according to the Institute for Supply Management's (ISM) monthly survey.

ISM's manufacturing index slipped six-tenths to 60.6 percent, the lowest since January but still reflecting strong growth. Anything above the 50-percent threshold indicates growth.

New orders also fell but production jumped 2.3 points to 60.8 percent, the survey showed.

However, the employment index fell to 49.9 percent, pointing to a slowdown in hiring after six straight months of increases.

Respondents "reported that their companies and suppliers continue to struggle to meet increasing levels of demand," ISM survey chief Timothy Fiore said, noting long lead times, rising prices and some "wide-scale shortages of critical basic materials."

In addition, he warned that "worker absenteeism, short-term shutdowns due to parts shortages, and difficulties in filling open positions continue to be issues that limit manufacturing-growth potential."

But the mood among executives was upbeat as 17 of the 18 sectors surveyed were growing and none declined.

"Other than material availability/volatility and rising prices, the outlook for our company is good. We can't keep up with the increase in orders," one furniture industry executive said.

Comments

Comments are closed.