ISM Manufacturing Index: The Institute for Supply Management’s manufacturing index moved down 0.9% (m/m) to 46.4 for July 2023; this value is weaker than the forecast of 50. The new orders sub-index scored at 47.3. The reading pointed to a ninth straight month of contraction in factory activity, as demand remains weak, production slowed due to lack of work, and suppliers continue to have capacity.

U.S. Manufacturing Capacity Utilization: Manufacturing capacity utilization (MCU) reached 77.97% in June 2023, -0.09% month on month (m/m). On a year on year (y/y) comparison, the MCU was a modest -1.54%.

ISM Non-Manufacturing Index: The Institute for Supply Management’s non-manufacturing index increased by 3.6 points month on month (7.2% m/m) to 53.9 in June 2023.

ISM Manufacturing Index: The Institute for Supply Management’s manufacturing index moved down 1.9% (m/m) to 46.0 for June 2023; this value is weaker than the forecast of 50. The new orders sub-index scored at 45.6. The reading pointed to a faster rate of contraction in the manufacturing sector since May 2020, with companies managing outputs down as softness continues and optimism about the second half of 2023 weakens.

U.S. Manufacturing Capacity Utilization: Manufacturing capacity utilization (MCU) reached 78.4% in May 2023, +0.01% month on month (m/m). On a year on year (y/y) comparison, the MCU was a modest -1.47%.

ISM Non-Manufacturing Index: The Institute for Supply Management’s non-manufacturing index decreased by 1.6 points month on month (-3.1% m/m) to 50.3 in May 2023.