US Non-Manufacturing PMI Displays Recovery in June

The US non-manufacturing services sector activity showed a strong recovery during June, nearing a return to its levels before the COVID-19 pandemic.

The ISM Non-Manufacturing Purchasing Managers’ Index (PMI) for June increased to 57.1, compared to its reading in May at 45.4, and an expected reading of 50.1.

This is the best level for the index in four months.

Meanwhile, the Non-Manufacturing Prices Paid Index recorded 62.4 last month, up from 55.6 in the previous month.

The non-manufacturing new orders index registered 61.6, while the sector’s employment index stood at 43.1, up from 41.9 and 31.8 in May, respectively.