ISM Manufacturing PMI Beats Expectations for June

The purchasing managers’ index (PMI) for the manufacturing sector in the United States increased to 52.6 in June, as shown by the data of the Institute for Supply Management (ISM).

This comes after the index recorded 43.1 in May and was expected to register 49.5 and remain in the contraction area, according to market expectations.

The ISM index for new orders reached 56.4, beating the forecasts consensus at 36.1.

Meanwhile, the ISM manufacturing employment index recorded 42.1 for June, compared to its level in May at 32.1. The ISM manufacturing prices paid index reached 51.3 in June, compared to its level in May at 40.8.