Source: IHS Markit
US private sector expansion softened in June, with activity index hitting a 2-month low of 64.8, down from 70.4 in May.
DXY is down -0.03%, SPY is up +0.054%, QQQ is up +0.15%.
- Overall, the Composite PMI Output Index fell from 68.7 in May to 63.9 in June as expansion continued, albeit at a slower rate.
- Manufacturing PMI hit a series record of 62.6 in June, after jumping from 62.1 in May
- The Manufacturing output Index hit a 2-month low after declining from 59.6 in May to 59.2 in June.
- Manufacturers were slowed down by significant supply constraints, with staff shortages affecting the industry together with the service sector.
- New business growth remained robust, but eased to a three-month low
- Manufacturers and service businesses experienced an uptake of new orders on further relaxing of coronavirus restrictions.
- Price pressures were elevated, with inflation easing only to the second-fastest gain on record.
- Optimism grew, with businesses upbeat over the outlook in the next 12 months.