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- U.S. manufacturing activity expands slightly less than initially estimated in June - IHS Markit
U.S. manufacturing activity expands slightly less than initially estimated in June - IHS Markit
The
latest report by IHS Markit revealed on Thursday the seasonally adjusted IHS
Markit final U.S. Manufacturing Purchasing Managers’ Index (PMI) came in at 62.1
in June, unchanged on May, but dropping slightly from the earlier released “flash”
reading of 62.6. The June reading pointed to a noticeable improvement in
operating conditions, which was the joint-strongest since data collection began
in May 2007.
Economists
had forecast the index to stay unrevised at 62.6.
According
to the report, the May gain in headline figure was supported by further significant
expansions in output and new orders, but supply chain disruptions worsened and weighed
on production capacity. Vendor performance deteriorated to the greatest extent
on record. Input costs, meanwhile, showed the biggest gain on record, feeding
through to another record increase in factory selling prices.
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