US: S&P Global Manufacturing PMI falls to 52.7 in June vs. 52.4 expected

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  • The US S&P Global Manufacturing PMI fell to 52.7 in June.
  • Data implied an upward revision of the previous estimate of 52.4.

The US Global Manufacturing PMI it fell to its lowest level since July 2020, standing at 52.7 in June, down from 57 in May. This data was slightly better than market expectations and the preliminary estimate of 52.4.

Chris Williamson, chief economist at S&P Global Market Intelligence, noted that “the PMI survey has fallen in June to a level indicating that the manufacturing sector is acting as a drag on GDP, and that drag will intensify as we go forward.” in summer”. He added that indicators on the future outlook, such as business expectations, new order intake, labor backlogs and input purchases, have deteriorated markedly, suggesting a higher risk of a slowdown in the sector.

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Source: Fx Street

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