7/1, 3:47 PM (Source: TeleTrader)
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US manufacturing PMI remains unchanged at 62.1 in June

United States manufacturing Purchasing Managers' Index (PMI) stood at 62.1 in June, unchanged since the previous month, but slightly lower than the earlier released "flash" estimate of 62.6according to the report published by the IHS Markit on Thursday.

The pace of increase was the second-fastest on record, as further relaxation of COVID-19 restrictions encouraged the demand growth from new and existing customers. However, output increases were weighed down by ongoing and severe supply-chain disruptions and labor shortages.

"Capacity needs to be boosted and supply chains need to improve to help alleviate some of the inflationary pressures. However, companies reported increasing difficulties filling vacancies in June, and raising COVID-19 infection waves in Asia threaten to add to supply chain issues," Chris Williamson, Chief Business Economist at IHS Markit said.

Breaking the News / LH