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- June data pointed to a relatively subdued month for the U.S. manufacturing sector - Markit
June data pointed to a relatively subdued month for the U.S. manufacturing sector - Markit
June data pointed to a relatively subdued month for the U.S. manufacturing sector, with output, new order and employment growth all slowing since May. At the same time, survey respondents signalled resilient confidence towards the year ahead outlook, with optimism up to its strongest level since February. Meanwhile, cost pressures were the weakest recorded for 15 months, which resulted in the slowest pace of factory gate price inflation since late-2016.
The seasonally adjusted IHS Markit final US Manufacturing Purchasing Managers' Index (PMI) registered 52.0 in June, down from 52.7 during May, to signal the least marked improvement in overall business conditions since September 2016. Slower rates of output and new business growth were the main factors weighing on the headline PMI in June, which more than offset a stronger contribution from the stocks of purchases component.
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