FOREX TradingCharts.com

Financial News: U.S. Manufacturing Growth Slows Modestly In June

U.S. Manufacturing Growth Slows Modestly In June

07/01/2021 - 11:01:00 (RTTNews)

(RTTNews) - A report released by the Institute for Supply Management on Thursday showed a modest slowdown in the pace of growth in U.S. manufacturing activity in the month of June.

The ISM said its manufacturing PMI slipped to 60.6 in June from 61.2 in May, although a reading above 50 still indicates growth in the manufacturing sector. Economists had expected the index to edge down to 61.0.

The modest decrease by the headline index partly reflected a slowdown in the pace of growth in new orders, as the new orders index fell to 66.0 in June from 67.0 in May.

The employment index also slid to 49.9 in June from 50.9 in May, indicating a slight contraction after six straight months of job growth.

On the other hand, the report showed the production index climbed to 60.8 in June from 58.5 in the previous month.

The prices index also jumped to 92.1 in June from 88.0 in May, reaching its highest reading since hitting 93.1 in July of 1979.

"Overall, the report adds to signs that the 'transitory' surge in prices seen over the past few months still has a little while to run," said Michael Pearce, Senior U.S. Economist at Capital Economics.

He added, "That will make life more uncomfortable for Fed officials but, with labor shortages likely to keep a brake on employment growth, we suspect they will remain focused on the shortfall in employment from their broad-based and inclusive full employment goal."

Next Tuesday, the ISM is scheduled to release a separate report on activity in the service sector in the month of June. The services PMI is expected to slip to 63.3 in June from 64.0 in May.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


New Zealand Jobless Rate Falls To 4.0% In Q2 (06 min(s), 32 sec(s) ago)
(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 4.0 percent in t ...Full Story»

New Zealand Unemployment Data Due On Wednesday (54 min(s), 32 sec(s) ago)
(RTTNews) - New Zealand will on Wednesday release Q2 figures for unemployment, highlighting a mode ...Full Story»

Swiss Consumer Confidence Improves Strongly To 11-year High (06 hr(s), 51 min(s), 32 sec(s) ago)
(RTTNews) - Switzerland's consumer confidence rose sharply in July to its highest level in ove ...Full Story»

U.S. Factory Orders Jump More Than Expected In June (08 hr(s), 21 min(s), 32 sec(s) ago)
(RTTNews) - Partly reflecting a sharp increase in orders for non-durable goods, the Commerce Depar ...Full Story»

UAE Non-Oil Private Sector Growth At 2-Year High (11 hr(s), 24 min(s), 32 sec(s) ago)
(RTTNews) - The UAE non-oil private sector growth was the fastest in two years in July, survey res ...Full Story»

Egypt Non-Oil Private Sector Declines In July (11 hr(s), 26 min(s), 32 sec(s) ago)
(RTTNews) - Egypt's non-oil private sector activity contracted at a softer pace in July, surve ...Full Story»

Saudi Arabia Non-Oil Private Sector Growth Eases In July (11 hr(s), 25 min(s), 32 sec(s) ago)
(RTTNews) - Saudi Arabia's non-oil private sector grew at a softer pace in July, survey result ...Full Story»

Latvia Industrial Production Increases In June (12 hr(s), 33 min(s), 32 sec(s) ago)
(RTTNews) - Latvia's industrial production increased in June, data from the Central Statistica ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

New Zealand Jobless Rate Falls To 4.0% In Q2

08/03/2021 - 18:48 PM (RTTNews)
(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 4.0 percent in t ...Full Story>>

New Zealand Unemployment Data Due On Wednesday

08/03/2021 - 18:00 PM (RTTNews)
(RTTNews) - New Zealand will on Wednesday release Q2 figures for unemployment, highlighting a mode ...Full Story>>

Swiss Consumer Confidence Improves Strongly To 11-year High

08/03/2021 - 12:03 PM (RTTNews)
(RTTNews) - Switzerland's consumer confidence rose sharply in July to its highest level in ove ...Full Story>>

U.S. Factory Orders Jump More Than Expected In June

08/03/2021 - 10:33 AM (RTTNews)
(RTTNews) - Partly reflecting a sharp increase in orders for non-durable goods, the Commerce Depar ...Full Story>>

UAE Non-Oil Private Sector Growth At 2-Year High

08/03/2021 - 07:30 AM (RTTNews)
(RTTNews) - The UAE non-oil private sector growth was the fastest in two years in July, survey res ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.