A BMW manufacturing plant in Greer, South Carolina
WASHINGTON (Reuters) – U.S. manufacturing activity contracted in June for the eighth straight month and fell to its lowest level since May 2020, the Institute for Supply Management’s monthly survey shows. (ISM) published on Monday, which also signals a drop in producer prices.
The ISM manufacturing index fell to 46.0 from 46.9 the previous month, while economists polled by Reuters on average expected an improvement to 47.0.
The new orders component of the ISM survey rebounded to 45.6 from 42.6 in May, but that of employment fell to 48.1 from 51.4 the previous month.
That of prices paid by manufacturing companies fell sharply to 41.8 after 44.2 in May, while the difficulties in the supply chain have clearly eased.
(Report Lucia Mutikani, French version Corentin Chapron, edited by Blandine Hénault)
2023-07-03 15:04:24
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