(June 2009) - PMI rises to 44.8 pct but New orders contracted to 49.2 pct from May high of 51.1 pct

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	+6.5	Growing	From Contracting	1
Employment	40.7	34.3	+6.4	Contracting	Slower	11
Supplier Deliveries	50.6	49.8	+0.8	Slower	From Faster	1
Inventories	30.8	32.9	-2.1	Contracting	Faster	38
Customers' Inventories	43.5	46.0	-2.5	Too Low	Faster	3
Prices	50.0	43.5	+6.5	Unchanged	From Decreasing	1
Backlog of Orders	47.5	48.0	-0.5	Contracting	Faster	14
Exports	49.5	48.0	+1.5	Contracting	Slower	9
Imports	46.0	42.5	+3.5	Contracting	Slower	17
OVERALL ECONOMY				Growing	Faster	2
Manufacturing Sector				Contracting	Slower	17

*Number of months moving in current direction.