“U.S. manufacturing activity continued in contraction at the close of the second quarter. Demand was weak again, output declined, and inputs stayed accommodative,” according to the Institute for Supply Management’s closely watched PMI report for June. The index fell 0.2 percentage points to 48.5 (a reading below 50.0 is consistent with contraction). June marked the 19th time in the last 20 months that manufacturing has contracted, underperforming versus expectations. See the full report here.
