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Manufacturing sector's economic activity expands in June TEMPE, Ariz.—Economic activity in the manufacturing sector expanded in June for the fourth consecutive month, while the overall economy grew for the 85th consecutive month, say the na- tion's supply executives in the latest Manufacturing ISM Report On Busi- ness. The report is based on data com- piled from purchasing and supply exec- utives nationwide. The June PMI registered 53.2 percent, an increase of 1.9 percentage points from the May reading of 51.3 percent. The New Orders Index registered 57 percent, an increase of 1.3 percentage points from the May reading of 55.7 percent. The Production Index regis- tered 54.7 percent, 2.1 percentage points higher than the May reading of 52.6 percent. The Employment Index registered 50.4 percent, an increase of 1.2 percentage points from the May reading of 49.2 percent. Inventories of raw materials registered 48.5 percent, an increase of 3.5 percentage points from the May reading of 45 percent. The Prices Index registered 60.5 per- cent, a decrease of 3 percentage points from the May reading of 63.5 percent, indicating higher raw materials prices for the fourth consecutive month. Manufacturing registered growth in June for the fourth consecutive month, as 12 of 18 industries reported an in- crease in new orders in June (down from 14 in May), and 12 of 18 indus- tries reported an increase in production in June (same as in May). Manufacturing expanded in June as the PMI registered 53.2 percent, an in- crease of 1.9 percentage points from the May reading of 51.3 percent, indicating growth in manufacturing for the fourth consecutive month, and is the highest reading since February 2015 when the PMI registered 53.3 percent. A reading above 50 percent indicates that the manufacturing economy is generally ex- panding; below 50 percent indicates that it is generally contracting. A PMI above 43.2 percent, over a period of time, generally indicates an expansion of the overall economy. The past relationship between the PMI and the overall economy indicates that the average PMI for January through June (50.8 percent) corresponds to a 2.4 percent increase in real gross domes- tic product (GDP) on an annualized basis. In addition, if the PMI for June (53.2 percent) is annualized, it corre- sponds to a 3.2 percent increase in real GDP annually. Automobile and electronic industries spur powder coatings market growth SAN FRANCISCO, Calif.—The global powder coatings market, an emerging market in the paint industry, is projected to reach $12.48 billion by 2020. This is according to Powder Coat- ings Market Analysis and Segment Fore- casts to 2020, a new report by Grand View Research, an industrial market re- search firm. High demand of powder coatings is driven by a growing need for superior quality items in consumer goods, furniture, automotive, architec- ture, and general industry. The consumer goods sector led the powder coatings market and attributed 22.1 percent of total market volume in 2013. The automotive sector is pro- jected to grow at a compound average growth rate (CAGR) of 7.7 percent by 2020. With the growing automobile and electronic industries, the Asia-Pa- cific region is expected to become the largest consumer of powder coatings in the future with a CAGR of 8.5 percent by 2020. Developing countries like India, Brazil and Russia are also ex- pected to become key consumers of powder coatings. However, the North American and European markets have reached their maturity stage. US manufacturing technology orders decrease in April MCLEAN, Va.—April US manufac- turing technology orders were down 27.5 percent from the same month a year ago. Year to date, orders are down 16.6 percent compared to the same point in 2015. This is according to the Association for Manufacturing Tech- nology (AMT) as reported by compa- nies participating in the United States Manufacturing Technology Orders (USMTO) program. POWDER COATING, August 2016 29 Preliminary steel imports increase in May WASHINGTON, D.C.—The Amer- ican Iron and Steel Institute (AISI) has reported that for the month of May 2016, the US imported a total of 2,786,000 net tons (NT) of steel, in- cluding 2,077,000 NT of finished steel. Respectively, these totals are up 12.2 percent and 1.8 percent versus April final data. Year-to-date (YTD) total and finished steel imports are 12,795,000 and 10,544,000 NT, both down 31 percent respectively versus the same period in 2015. Annualized total and finished steel imports in 2016 would be 30.7 and 25.3 million NT, down 21 percent and 20 percent re- spectively versus 2015. Finished steel import market share was an estimated 23 percent in May and is estimated at 24 percent YTD. AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. For more news about steel and its applications, visit www.steel.org. Global powder coatings market closely examined DEERFIELD BEACH, Fla.—Global demand for powder coatings was valued at $7.5 billion in 2014 and is expected to reach $11.0 billion in 2020, growing at a compound annual growth rate (CAGR) of 6.8 percent between 2015 and 2020. In terms of volume, the global powder coatings market stood at 2,045.0 kilo tons in 2014. This is according to Powder Coatings Market for Automotive, Con- sumer Goods, General Industry, Architec- tural, Furniture and Other Applications — Global Industry Perspective, Compre- hensive Analysis, and Forecast, 2014- 2020, a report from Zion Research, an industrial market research firm. Strong growth in automotive industry is mainly driving demand for powder coatings. Continuous innovation with powder coatings will further expand market par- ticipation opportunities. UPDATE: Markets