(Institute for Supply Management) US Manufacturing PMI fell by 0.6% in June from May to record a growth of 60.6%. The PMI is an expansion in activity for the 13th month, following contractions in April 2020.
The production index rose by 2.3% to reach 60.8, while Prices Index gained 4.1% to a higher level of 92.1%.
The New Export Orders Index rose by 0.8% to 56.2% as the Imports Index surged higher by 7% to 61%.
The New Orders Index fell by 1% to hit 66%, while the Backlog of Orders also registered declines of 6.1% to 64.5%.
The Supplier Deliveries Index was 75.1%, 3.7% below May, while Inventories Index ticked higher by 0.3% to 51.1%.
The Employment Index hit 49.9%, after declining by 1% from May.
Record-long lead times, material shortages, rising prices of commodities, and difficulties in moving products held back manufacturing activity in June.
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