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Purchasing Managers Report Indicates Growth

July 08, 2019

The June composite Purchasing Managers’ Index rose to 51.5 versus 50.9 in May. The increase follows three consecutive months of declines. The composite PMI reflects a combination of services and manufacturing sectors. Any reading above 50 indicates economic growth. PMI is based on a monthly survey of senior executives at more than 400 companies in 19 industries weighted by contribution to GDP. PMI represents new orders, inventory levels, production, supplier deliveries and employment.