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To: Didi who wrote (1929)	7/3/2002 10:05:41 AM
From: Didi	Respond to of 2505

ISM: June Non-Mfg. Index at 57.2%% reportonbusiness.ism.ws <---details dismal.com chart: martincapital.com./econ_cyc.htm media: quote.bloomberg.com =========================== >>> FOR RELEASE: 10:00 A.M. ET JULY 3, 2002 Contact: Kristen Kioa ISM, Media Relations Tempe, Arizona (800) 888-6276, Ext. 3015 JUNE NON-MANUFACTURING ISM REPORT ON BUSINESS® Business Activity at 57.2% New Orders, Prices, Exports, Imports Increase Order Backlogs, Employment, Inventories Decrease (Tempe, Arizona) — Business activity in the non-manufacturing sector increased in June 2002, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®. The report was issued today by Ralph G. Kauffman, Ph.D., C.P.M., chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee and coordinator of the purchasing and supply management program, University of Houston-Downtown. "In June, non-manufacturing business activity increased at a slower rate than in May. The reported growth represents the fifth consecutive month of significant expansion in non-manufacturing business activity," Kauffman said. He added, "Also in June, New Orders grew at a slightly faster rate than in May, and the Backlog of Orders Index moved below 50 percent, indicating smaller backlogs than in May." Reports from purchasing and supply executives indicate 13 industry groups grew in June, two groups contracted, and two groups indicated no change. Increased business activity in June was reported by 35 percent of members, compared to May's 34 percent. Reduced activity was reported by 15 percent of members compared to 11 percent in May. In June, the remaining 50 percent of members indicated no change in business activity compared to 55 percent in May. The overall sense of how members currently assess the business climate is reflected in one member's statement that their business outlook is "cautiously optimistic." Other comments ranged from "New orders have slowed to nothing," to "Outlook good, business up." Also this month, Inventories decreased for the second consecutive month and Prices increased for the fourth month. New Export Orders and Imports continued to increase in June, while Employment shrank for the 16th consecutive month. The Inventory Sentiment Index increased, indicating greater discomfort with current inventory levels. Supplier Deliveries indicated slower performance for the 10th consecutive month. "Overall in June, non-manufacturing industries reported weaker growth, with business activity increasing at a slower rate than in May. In addition, new orders grew at a slightly higher rate than in May. Order backlogs decreased, export and import activity increased, and inventories decreased. Employment decreased faster than in May, and prices increased at a slower rate than in May," Kauffman commented. Significant reports of commodities in short supply or up or down in price in June indicate none are in short supply. Price increases are reported for auto fuel; beef; copper; drywall; fuel; paper; plastic bags; polyethylene film; PVC pipe and fittings; roofing shingles; soybean meal; stainless steel; stainless steel pipe; steel; steel pipe; and steel products. Price decreases are reported for cheese; computers; diesel fuel; fuel; gasoline; medical supplies; PCs; and pork.