Ekonomické zprávy
01.07.2024

U.S. manufacturing activity continues to shrink in June - ISM

A report from the Institute for Supply Management (ISM) showed on Monday the U.S. manufacturing sector’s activity shrank in June at a marginally quicker pace than in the previous month.

The ISM's index of manufacturing activity - the manufacturing PMI - checked in at 48.5 per cent in June, down 0.2 percentage point from an unrevised May reading of 48.7 per cent. The June reading indicated that economic activity in the manufacturing sector contracted for the third straight month and at a slightly steeper pace than in the previous month. 

Economists had forecast the indicator to increase to 49.1 per cent.

According to the report, the New Orders Index climbed 3.9 percentage points to 49.3 per cent last month but remained in contraction territory for the third month. Meanwhile, the Production Index fell 1.7 percentage points to 48.5 per cent, entering contraction territory. The Employment Index declined 1.8 percentage points to 49.3 per cent, indicating that employment decreased in June after an expansion in May. Elsewhere, the Supplier Deliveries Index increased 0.9 percentage point to 49.8 per cent, marking the fourth consecutive month of faster deliveries of suppliers to manufacturing organizations. The Inventories Index plunged 2.5 percentage points to 45.4 per cent, suggesting manufacturing inventories contracted at a quicker rate compared to the previous month. On the price front, the Prices Index dropped 4.9 percentage points to 52.1 per cent, indicating raw materials prices rose in June for the sixth month after eight straight months of decreases.

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