URL has been copied successfully!
U.S. factory activity eased from its four-year high in June as the manufacturing sector expanded at a slower pace, new industry data released on July 1 show.
The widely watched Manufacturing Purchasing Managers’ Index (PMI)—a monthly survey to determine the sector’s prevailing economic direction—dipped to 53.3, from 54 in May, according to the Institute for Supply Management. This represented the sixth consecutive month of growth—a PMI above 47.5 percent indicates an expanding economy.
Output and new orders continued to expand but slowed from the previous month, as frontrunning by U.S. firms may have run its course.
Thirty-four percent of the survey’s comments were positive, while 66 percent were negative. Price volatility, the war in Iran, and tariffs were the most mentioned developments….
The widely watched Manufacturing Purchasing Managers’ Index (PMI)—a monthly survey to determine the sector’s prevailing economic direction—dipped to 53.3, from 54 in May, according to the Institute for Supply Management. This represented the sixth consecutive month of growth—a PMI above 47.5 percent indicates an expanding economy.
Output and new orders continued to expand but slowed from the previous month, as frontrunning by U.S. firms may have run its course.
Thirty-four percent of the survey’s comments were positive, while 66 percent were negative. Price volatility, the war in Iran, and tariffs were the most mentioned developments….
Please follow us:
