The June Manufacturing PMI slipped by 0.6% to 60.6% in June from 61.2% in May as the expansion of the U.S. economy continued for 13 months consecutively since April 2020.
- The new orders index declined slightly to 66% in June from 67% in May. The Production Index increased by 2.3% in June.
- Employment reduced by 1% as the strong new-order levels, low inventories, and expanding backlogs supported the improved employment position in the U.S. economy.
- Supplier deliveries in June slowed following an increase in challenges of meeting customer demand. Hiring challenges, prolonged raw-materials lead times, and inconsistent availability of transportation led to the drop in supplier deliveries.
- Inventories grew for a second consecutive month as the inventory levels remained unstable, resulting from the ongoing supplier constraints.
The prices of raw materials increased by 4.1%, triggered by the scarcity of products and supply and demand forces in the manufacturing sector.
DJI gains +0.25%
Source: Institute for Supply Management.