Summary
- The US June S&P Global manufacturing PMI came in at 55.7, above the market forecast of 54.6.
- The latest PMI reading rose from 55.1 in the previous month, indicating improving US manufacturing conditions.
- With the PMI above 50, US manufacturing is maintaining a solid expansion trend.
Forecast Trend Report by Period
US manufacturing activity exceeded market expectations in June and remained in expansion territory.
Investing.com reported on June 23 that the US S&P Global manufacturing purchasing managers index, or PMI, stood at 55.7 in June. That topped the market forecast of 54.6 and was up from 55.1 a month earlier.
The PMI is a leading indicator of economic conditions that measures activity among manufacturing purchasing managers. A reading above 50 generally signals expansion, while a reading below 50 indicates contraction.
The stronger-than-expected reading, along with the month-on-month increase, suggests US manufacturing is maintaining a solid expansion trend.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
