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7/1, 4:02 PM (Source: TeleTrader)
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US manufacturing activity at lowest since June 2020 - ISM

The manufacturing activity in the United States declined in June compared to May, with the Manufacturing Purchase Managers' Index (PMI) falling by 3.1 percentage points and coming in at 53%, the lowest figure since June 2020, the Institute for Supply Management (ISM) revealed in its report issued on Friday.

The New Orders Index also recorded a monthly decrease, going down by 5.9 percentage points to 49.2%. The Production Index went up by 0.7 percentage points to 54.9%. On the other hand, the Prices Index saw a decline, going down by 3.7 percentage points to 78.5%. Meanwhile, the Employment index turned contraction for the second month, decreasing by 2.3 percentage points to 47.3%.

"Manufacturing performed well for the 25th straight month. There are signs of new order rate softening — cited in 17 percent of general comments, compared to 10 percent in May — but the root cause is difficult to determine," said Timothy R. Fiore, Chair of the Institute for Supply Management, while stressing that "employment activity remain strongly positive in spite of the uncertainty with new order rates."

Baha Breaking News (BBN) / JG