|In This Issue ...
- June Non-Manufacturing ISM Report On Business®: NMI at 53.3% — Read more.
- Latest JPMorgan Global PMI: Global Report on Manufacturing — Read more.
- Feature Article: Is Your Supply Chain Ready for Stagflation? — Read more.
- No-Cost Web Seminar Today: "Collaborative Sourcing: Achieving the Next Wave of Sourcing Savings" — Read more.
- ISM'S 2012 Call for Presentations Open — This Month Only — Read more.
- It's Easy to Subscribe to the Just in ETime Newsletter — Read more.
- Term of the Day — Read more.
- Contact Us — Read more.
|June Non-Manufacturing ISM Report On Business®: NMI at 53.3%
Economic activity in the non-manufacturing sector grew in June for the 19th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.
The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee. "The NMI registered 53.3 percent in June, 1.3 percentage points lower than the 54.6 percent registered in May, and indicating continued growth at a slower rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index decreased 0.2 percentage point to 53.4 percent, reflecting growth for the 23rd consecutive month, but at a slightly slower rate than in May. The New Orders Index decreased by 3.2 percentage points to 53.6 percent. The Employment Index increased 0.1 percentage point to 54.1 percent, indicating growth in employment for the 10th consecutive month and at a slightly faster rate than in May. The Prices Index decreased 8.7 percentage points to 60.9 percent, indicating that prices increased at a slower rate in June when compared to May. According to the NMI, 15 non-manufacturing industries reported growth in June. Respondents' comments are mixed about the business climate and vary by industry and company. The most prominent concern remains about the volatility of prices."
To read the entire release, click here.
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|Latest JPMorgan Global PMI: Global Report on Manufacturing
Global PMI at 23-Month Low as Manufacturing Slowdown Continues
The JPMorgan Global Manufacturing PMI™ fell to 52.3 in June, down from 53.0 in May and well below February's near-series record high. The latest reading was the weakest since July 2009, the first month of the current two-year period of recovery.
Among the major industrial regions, PMIs signaled slower rates of expansion in the Eurozone, Japan, China and the UK. The US PMI ticked slightly higher from May's 20-month low, but remained well below the highs reached earlier in the year.
To read the complete JPMorgan release, click here.
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|Feature Article: Is Your Supply Chain Ready for Stagflation?
The United States and the majority of the world economy have experienced a recession that is considered the deepest since World War II. Although indicators seem to show that the bottom has been reached, a clear upward direction of the economy is not visible.
Customers' inventories are still — for 26 consecutive months — too low. The May Report On Business® stated, "Slower growth in new orders and production are the primary contributors to this month's lower PMI reading. Manufacturing employment continues to show good momentum for the year, as the Employment Index registered 58.2 percent, which is 4.5 percentage points lower than the 62.7 percent reported in April. Manufacturers continue to experience significant cost pressures from commodities and other inputs."
As this recent article notes, the question emanating from these observations is: Are we heading for inflation? Reports and comments from major economic institutions provide a confusing picture. While the National Inflation Association (www.inflation.us) believes the United States is certainly headed toward hyperinflation, the U.S. Federal Reserve believes otherwise thus far. How could a scenario of inflation, hyperinflation or even stagflation develop?
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|No-Cost Web Seminar Today: "Collaborative Sourcing: Achieving the Next Wave of Sourcing Savings"
Date: Wednesday, July 6, 2011
Time: 11 a.m. PST/2 p.m. EST
Price: No cost
Length: 1 hour
Every day, supply management professionals battle rising inflation, global competition and tightening supply markets as they try to save more money through strategic sourcing. Register for this Web seminar to learn how to win those battles.
Attendees will learn how to capture the next wave of sourcing savings through collaborative sourcing and why they need a constant, comprehensive view into their spend, supplier performance and contract compliance. Collaborative sourcing provides the most effective and efficient way to get that.
Then, the event hosts will share how supply management professionals can leverage technology, process and a networked supplier community to build their collaborative sourcing program. In doing so, they can:
- Conquer this increasingly complex global market
- Deliver sustainable savings
- Achieve consistently high performance
- Optimize their risk mitigation strategies
This global economy isn't getting any simpler. Register today.
- Sundar Kamakshisundaram
Senior Manager, Solutions Marketing
- Andrew Bartolini
Managing Partner & Chief Research Officer
- Rohan Ranadive
Vice President, Enterprise Spend Management
Attendance of the live session of this web seminar qualifies for one CEH credit at ISM.
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|ISM'S 2012 Call for Presentations Open — This Month Only
Papers may be submitted July 1 — July 31, 2011.Complete and submit the web-based proposal form. ISM accepts only proposals submitted online.
Each presenter may submit up to three proposals for consideration, either as an individual or as a co-presenter.
Proposals are due by midnight (EDT) July 31, 2011.
As a not-for-profit institute, ISM does not provide honoraria for workshop presenters at our Annual International Supply Management Conference. Presenters are responsible for their own travel, hotel and other expenses. A complimentary registration is awarded for each session selected.
For details on the selection/notification process — or to answer the call for presentations online — visit the ISM website.
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|It's Easy to Subscribe to the Just in ETime Newsletter
To receive Just in ETime:
- First, log into the ISM website using your username and password.
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If you have any questions or encounter any problems, please contact RaeAnn Slaybaugh.
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|Term of the Day
Today's ISM Term of the Day is: BUREAU OF ECONOMIC ANALYSIS.
Definition: The Bureau of Economic Analysis, a branch of the U.S. Department of Commerce, promotes a better understanding of the U.S. economy by providing economic data and indicators.
A different Term of the Day is posted on the ISM Home Page each day — seven days a week. The Term of the Day is taken from the ISM Glossary of Key Supply Management Terms.
ISM members can access the online Members Only Glossary which includes terms from the private, public, and various industry sectors, and from a wide variety of sources. The Glossary can be browsed alphabetically, or searched by keyword.
Access the online Glossary.
If you are not a member but would like membership information, visit the ISM website.
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