June Manufacturing Activity Slows to a Near Two-Year Low: PMI

The S&P Global US manufacturing PMI – another measure of manufacturing – fell to 52.4 in June, its lowest level in nearly two years, as business activity in the manufacturing sector expanded at a much weaker pace last month.

Last month’s results are down from 57 in May and missed the market expectation of 56 by a wide margin. (Recall that a reading above 50.0 indicates growth.) The report said the US manufacturing sector lost growth momentum in early June, as output stalled, and new orders contracted amid weaker client demand.

Manufacturing

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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