Reported 8 months ago
On June 21, 2024, the US manufacturing sector continued to expand in June, reaching a 26-month high in the Purchasing Managers' Index (PMI) due to growth in new orders and employment. The US June manufacturing PMI rose from 51.3 in May to 51.7, exceeding expectations and hitting a 3-month peak. However, uncertainty in the Eurozone due to the early French elections caused a decline in the composite PMI to a 3-month low. The US service sector PMI increased from 54.8 to 55.1, and the composite PMI from 54.5 to 54.6, both reaching 26-month highs. Overall, US economic activity in June remained strong, driven mainly by the service sector, which has seen growth for 17 consecutive months, while manufacturing activities have also improved gradually.
Source: YAHOO