US manufacturing continues to show modest growth with June PMI in line with expectations
US manufacturing continues to show modest growth with June PMI in line with expectations. ISM's Purchasing Manager's Index registered at 55.3 in June, slightly below projections at 55.5 and 0.1% lower than May's number. However, the index shows continued, modest growth and marks the 13th straight month of expansion in the manufacturing sector. The biggest driver of the increase came from New Orders, which climbed 2% from May. New Orders have also grown for 13 consecutive months. The Production Index was 1% lower than May's reading while Employment didn't change. Both Production and Employment are showing growth overall. 15 of the 18 manufacturing industries reported growth in June as well. In general, the numbers continue to look promising for manufacturing in the US. (VIEW LINK)
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