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US manufacturing PMI continues to decline in June

by ChemOrbis Editorial Team -
  • 04/07/2017 (12:53)
According to the data from IHS Markit, the US manufacturing PMI recorded a decline for the fifth month in a row in June due to unsatisfying increases in output, new orders and job creation. Accordingly, the country’s final Purchasing Managers’ Index (PMI) fell to 52 in June compared with 52.7 in May.

The data showed that the country’s manufacturing output in June stood at nine-month low due to a weaker growth in new business. However, inventories helped off-set largest decreases to be recorded.

The data revealed that new orders posted the slowest increase since September last year due to weak demand. Exports also posted a slight rise, which was attributed to the emergence of more competitive prices outside the country and the negative impacts of higher US dollars.

In addition, job creation stood at three-year low in June.
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