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US PMI Sees Slowest Selling Price Increases In YTD

US DATA
  • The manufacturing PMI was revised down fractionally in the final June release to leave a still modest increase to 51.6 (cons & prelim 51.7) after 51.3 in May.
  • From the S&P Global press release (full here): “The most positive aspect of the latest survey was the fastest increase in employment since September 2022.”
  • "Although input costs continued to rise sharply, the rate of inflation eased in June, while selling prices increased at the slowest pace in the year-to-date."
  • “Where charges were raised, this reflected the passing on of higher input costs to clients. On the other hand, some firms lowered selling prices as part of efforts to remain competitive”
  • “Business confidence has consequently fallen to the lowest for 19 months, suggesting the manufacturing sector is bracing itself for further tough times in the coming months.”

Source: S&P Global

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