Institute for Supply Management

The Institute of Supply Management reported today that while manufacturing activity in June was not as strong as it was in May, the economic recovery is moving forward.

Consistency appears to be the theme of late when it comes to the Institute for Supply Management’s (ISM) monthly report on the non-manufacturing sector. The ISM’s index for measuring the sector’s overall health—known as the NMI—was 55.4 percent in May for the third straight month. Like the ISM’s Manufacturing Index, a reading of 50 percent or higher represents growth.

Although the numbers are not quite as strong as the previous month, the economic recovery appears to be on solid footing, according the May manufacturing report from the Institute of Supply Management.

In another sign that the United States economy is gradually recovering, the Commerce Department reported last week that new orders for manufactured durable goods in April were up 2.9 percent from March to $193.9 billion and were up 16.8 percent year-over-year. This marks the fourth time in the last five months new orders were up.

Following a 2.4 percent gain from February to March, the April report on the non-manufacturing sector from the Institute for Supply Management stated that its index for measuring the sector’s overall health—also known as the NMI—came in at 55.4 percent for the second straight month.

The economic recovery took what could be viewed as a strong step forward based on the Institute of Supply Management’s (ISM) most recent monthly manufacturing report