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EVANS HAILS STRONG REPORT ON MANUFACTURING
Longest Sustained Strong Growth In Nearly 30 Years

WASHINGTON, DC – Commerce Secretary Donald L. Evans today praised new information from the Institute for Supply Management’s (ISM) Manufacturing Index showing strong manufacturing employment and nine straight months of growth - the longest sustained growth at such levels since 1973.

“American manufacturers are growing stronger today thanks to the President’s economic leadership. Manufacturers are expanding their businesses, opening new markets for American products and creating new jobs. Today’s report is yet another positive economic indicator that shows that our economy is on the right track. However, there is more work to be done. The President is focused on lowering health care costs, reducing energy prices and eliminating junk lawsuits so that manufacturers will find it easier to succeed in the worldwide marketplace.”

NOTE: The Purchasing Managers’ Index (PMI) increased 0.9 index point to 62.0 in July, in line with market expectations. The index has exceeded 50 (indicating growth) for the past 14 months and has stayed above 60 (indicating strong growth) for 9 consecutive months; this is the longest period above 60 since 1973.

The employment index was above 50 for the 9th consecutive month. Standing alone the manufacturing sector in the United States would be the world’s 5th largest economy in the world.