(CercleFinance.com) – Activity in the US manufacturing sector continued to contract for the eighth consecutive month in June, according to the results of a monthly survey published on Monday by the Institute for Supply Management (ISM).
The ISM index thus stood at 46 last month, against 46.9 in May, while economists expected it to rise to 47.2. For the record, the bar of 50 points separates growth and contraction of activity.
While the new orders sub-index climbed to 45.6, after 42.6 the previous month, that measuring production sank to 46.7 from 51.1, as did that of employment which dipped to 48.1 after 51.4 last month.
Another manufacturing PMI index published in the morning, that of S&P Global, came out in sharp decline, thus confirming the prospect of a possible entry into recession of the American economy in the second part of the year.
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