In June, the ISM Manufacturing PMI in the United States decreased marginally.
Below 92.50, the US Dollar Index continues to trade sideways.
The manufacturing sector in the United States continued to grow in June, albeit at a slower pace than in May, with the ISM’s Manufacturing PMI falling to 60.6 from 61.2 in May. This result was little below than the market’s forecast of 61.
Further details of the report indicated that the Employment Index fell below 50 for the first time since November, indicating that the economy is contracting. In addition, the Prices Paid Index increased to 91.2, a new series high, from 88 in May. Finally, from a high of 67, the New Orders Index fell to 66.
“Manufacturing fared strongly for the 13th straight month,” said Timothy R. Fiore, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee, “with demand, consumption, and inputs reporting growth compared to May.” “Due to the difficulty in attracting and keeping direct labor, panelists’ companies and supply chains continue to struggle to respond to increasing demand.”
This data had no immediate impact on the US Dollar Index, which was last noted flat on the day at 92.35./n
