The June ISA Economic Indicator Report from the Industrial Supply Association showed that growth accelerated for manufacturers and distributors in May.
The ISA Manufacturer Index increased to 56.8 in May from 55.5 in April. Meanwhile, the ISA Distributor Index increased to 66.9 in May, compared to 57.5 in April.
“The faster pace of growth during May for ISA members mirrors the results from the monthly Institute for Supply Management Index, which also rose during the month,” said Bryon Shafer, general manager of ASG Industrial and chair of ISA’s Strategic Information Committee. “Members appear to be well positioned for the start of the dog days of summer.”
For each index, a reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.