The Economy

Manufacturers Look Ahead to June Data on Prices

July 8, 2011

This week in manufacturing: July 11-15

The second half of 2011 is in full swing, and a slew of economic reports scheduled to be released this week will help provide more insight on a key data point for manufacturers right now -- commodity prices.

"I think manufacturers continue to be worried about inflation," said Chad Moutray, chief economist for the National Association of Manufacturers.

Moutray, though, is bullish about the manufacturing sector, based on recent economic data such as the Institute for Supply Management's June purchasing managers index , which rose 1.8% to 55.3.

On Thursday, the Bureau of Labor Statistics will issue its Producer Price Index for June, giving manufacturers a snapshot of commodity prices at various stages of processing. On Friday, the BLS will issue its Consumer Price Index for June.

The agency's May Producer Price Index for intermediate materials, supplies and components moved up 0.9%, marking the 10th consecutive monthly increase. Moutray attributed the jump to rising raw-material prices.

"So that represents a challenge to the bottom line for a lot of manufacturers," Moutray said.

On Wednesday, the BLS will issue its U.S. Import and Export Price Indexes for June.

On Friday, the Federal Reserve will issue its monthly index of industrial production, which measures real output for the manufacturing, mining, and electric and gas utilities sectors.

Industrial production edged up 0.1% in May, the second consecutive month with little or no gain, according to the index.

Highlights for the Week of July 11-15

Wednesday, July 13

U.S. Import and Export Price Indexes for June, U.S. Bureau of Labor Statistics (8:30 a.m.)

Thursday, July 14

Producer Price Index for June, U.S. Bureau of Labor Statistics (8:30 a.m. EST)

Initial jobless claims for week ending June 9, Federal Reserve Bank of Philadelphia (8:30 a.m. EST)

Friday, July 15

Consumer Price Index for June, U.S. Bureau of Labor Statistics (8:30 a.m. EST)

Industrial production and capacity utilization for June, Federal Reserve (9:15 a.m.)

Industrial production for June, Federal Reserve Bank of Philadelphia (9:15 a.m.)

Dell Inc. shareholders meeting

About the Author

Josh Cable | Former Senior Editor

Former Senior Editor Josh Cable covered innovation issues -- including trends and best practices in R&D, process improvement and product development. He also reported on the best practices of the most successful companies and executives in the world of transportation manufacturing, which encompasses the aerospace, automotive, rail and shipbuilding sectors.

Josh also led the IndustryWeek Manufacturing Hall of Fame, IW’s annual tribute to the most influential executives and thought leaders in U.S. manufacturing history.

Before joining IndustryWeek, Josh was the editor-in-chief of Penton Media’s Government Product News and Government Procurement. He also was an award-winning beat reporter for several small newspapers in Northeast Ohio.

Josh received his BFA in creative writing from Bowling Green University, and continued his professional development through course-work at Ohio University and Cuyahoga Community College.

A lifelong resident of the Buckeye State, Josh currently lives in the Tremont neighborhood of Cleveland. When the weather cooperates, you’ll find him riding his bike to work, exercising his green thumb in the backyard or playing ultimate Frisbee.