- Business activity in the US private sector continued to expand in June.
- The US dollar index clings to modest daily profits above 99.
Economic activity in the US private sector continued to expand at a healthy pace in June, with the Global S&P purchasing managing index composed of 52.8 (preliminary estimate), slightly lowering from 53 in May.
In the same period, the manufacturing PMI remained stable in 52, while the services PMI dropped to 53.1 from 53.7. Both figures exceeded analysts’ estimates.
When evaluating the results of the survey, “the preliminary data of the June PMI indicated that the US economy continued to grow at the end of the second quarter, but that the perspectives remain uncertain while inflationary pressures have increased dramatically in the last two months,” said Chris Williamson, head economist in S&P Global Market Intelligence.
Market reaction
The US dollar (USD) maintains its position behind the PMI data. At the time of publication, the USD index rose 0.35% in the day to 99.10.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
