ISM Jun Manufacturing PMI Slipped To 60.6 vs May 61.2

US ISM NEW ORDERS INDEX 66.0 JUN VS 67.0 MAY

US ISM EMPLOYMENT INDEX 49.9 JUN VS 50.9 MAY

US ISM PRODUCTION INDEX 60.8 JUN VS 58.5 MAY

US ISM SUPPLIER DELIVERY INDEX 75.1 JUN VS 78.8 MAY

US ISM INVENTORIES INDEX 51.5 JUN VS 50.8 MAY

• The ISM Mfg PMI dropped 0.6pt in Jun to 60.6, hitting a 5-month low and coming in slightly weaker than market forecasts (BBG: 61.0).
• June's downtick was led by an decrease of Supplier Deliveries (-3.7pt), Employment and New Orders (both -1.0), with Employment shifting back to contraction territory for the first time since Nov 2020.
• Meanwhile, Production edged up 2.3pt in June, while Inventories gained 0.3pt and rose to the highest level since Oct 2020.
• Among the other categories, Order Backlogs saw the largest fall, down 6.1pt to 64.5, its lowest level since Feb.
• On the other hand, imports recorded the biggest gain, up 7.0pt to the highest level since Dec 2006 at 61.0, while Prices rose by 4.1pt to a record high of 92.1.
• While Customer's inventory ticked up 2.8pt to 30.8, Exports edged up 0.8pt to 56.2 in Jun.