US ISM Manufacturing PMI Falls to 53.3 in June, Below Expectations
The US ISM Manufacturing PMI dropped to 53.3 in June, down from both the previous month's reading and analyst expectations.
The Institute for Supply Management (ISM) reported that its Manufacturing PMI declined to 53.3 in June, missing the consensus estimate and the May figure. This marks a slowdown in factory activity growth, though the index remains above the 50 threshold that separates expansion from contraction.
The data suggests a cooling in the manufacturing sector, which may influence Federal Reserve policy expectations. Traders will watch for further economic indicators to gauge the pace of the slowdown.
Source: FXStreet Forex News