U.S. Factory Activity Decelerates in June as Material Prices Plunge
Summary:
- The ISM manufacturing index slipped to 53.3 in June, extending its expansion streak to six months.
- The price index for raw materials dropped 9.1 points to 73, the largest single-month drop since July 2022.
- The employment gauge rose to 49.7, its highest since January but still indicating contraction in factory payrolls.
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