Space in the city

WHAT RESPONDENTS ARE SAYING ... "Customer inventory burn is complete and real demand has reappeared." (Machinery) "... a lot of people are requoting old business and using favorable pricing to negotiate with their current suppliers." (Computer & Electronic Products) "Banks are reluctant to lend to businesses, and until this changes the economy will continue to be weak." (Fabricated Metal Products) "Slow June, but firm large orders in July, August and September." (Food, Beverage & Tobacco Products) "Market appears to have bottomed out as aftermarket has picked up slightly over the past month." (Transportation Equipment) MANUFACTURING AT A GLANCE JUNE 2009 Index Series Index June Series Index May Percentage Point Change Direction Rate of Change Trend* (Months) PMI 44.8 42.8 +2.0 Contracting Slower 17 New Orders 49.2 51.1 -1.9 Contracting From Growing 1 Production 52.5 46.0 +6....

Economic activity in the manufacturing sector contracted  (any number below 50 percent indicates contraction ). The consensus range for this index was from 41 to 47.5.  ISM's manufacturing index for the month of June 2009 was 44.8%, may 2009 PMI was 42.8%.

U.S. stock futures are pointing to a higher opening Wednesday as investors await data on the manufacturing and housing industries. Futures are reflecting gains in European markets, which rose after upbeat reports on manufacturing activity in both Britain and the 16 countries that share the euro currency. Later Wednesday morning, investors will get a reading on manufacturing activity in the U.S. Economists expect activity to have declined in June for the 17th straight month, but at the slowest pace since last August.