The August ISA Economic Indicator Report (EIR) from the Industrial Supply Association indicated that growth slowed for distributors and manufacturers during the month of July.
The ISA Distributor Index declined from 65.7 in June to 62.2 in July, while the Manufacturer Index decreased from 62.7 to 53.1.
“While this month’s report shows that the economy is still expanding, it’s doing so at a slower pace,” said Bryon Shafer, general manager of ASG Industrial and chair of ISA’s Strategic Information Committee. “The good news is that the Anticipated Business Conditions Index and the Anticipated New Orders Index both increased during the month, indicating that distributors and manufacturers are optimistic about the future.”
For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction. The Indexes have been above 50% since December 2012.