Manufacturing Sector Shrinks for First Time in Three Years

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The ISM Manufacturing index was reported at 49.7 in June, a decline of 3.8. This is the first time since July 2009 that the index fell below 50, indicating a contraction of the sector. Corresponding to this decline, the price index fell a massive 10.5 points to 37. The new orders index fell into contraction, losing 12.3 points to 47.8. The non-manufacturing index will be released on Thursday. Considering the declines seen today, the non-manufacturing sectors will likely not have good news.

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