|
US: Manufacturers reported a disappointing end to the second quarter - 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," said the IHS Markit on Monday.
Key highlights:
- 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
- Survey respondents signalled resilient confidence towards the year ahead outlook, with optimism up to its strongest level since February
- Slower rates of output and new business growth were the main factors weighing on the headline PMI in June
- The latest survey marked four years of sustained employment growth across the manufacturing sector. However, the pace of job creation eased to its lowest since March
Commenting on the final PMI data, Chris Williamson, Chief Business Economist at IHS Markit said: “The PMI has been sliding lower since the peak seen in January and the June reading points to a stagnation – at best – in the official manufacturing output data."
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
More from Eren Sengezer
