The ISM Manufacturing Report on Business, released June 1 continued an upward trend that is in its 10th month for manufacturing, and in its 13th month for the overall economy. The growth is broad-based, with 16 of 18 industries reporting expansion. Only Petroleum and Coal Products reported a contraction.
Price pressure is also steady — again covering many categories of commodities — although supplies appear to be fine. Some electronic components were reported in short supply.
Scares in the European economy and persistently high unemployment numbers here have likely helped to keep demand, and inflation under control, but there is nothing on the horizon indicating a buyers’ market is coming along soon. The economic engine is keeping the ship moving forward, steady as she goes.