“June data signalled a slightly softer rate of growth across the U.S. manufacturing sector. The PMI dipped to its lowest in four months as output and new orders both expanded at the slowest rates since November 2017,” Markit said in its latest PMI report for the United States. Below are some key takeaways from the original press release.
- The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index registered 55.4 in June, down from 56.4 in May.
- The latest PMI reading was up from the ‘flash’ figure of 54.6 and ended the strongest quarterly performance since the third quarter of 2014.
- Output growth remained strong in June, despite the rate of expansion easing to a seven-month low.
- The rate of input cost inflation was the slowest for four months, but remained sharp nonetheless.
- Panellists widely commented that higher input costs were partly passed onto clients.
- The rate of job creation was the fastest since February and outstanding business rose at the second-strongest rate since September 2015.
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