US manufacturing sector grows in June: ISM
[NEW YORK] The pace of growth in the US manufacturing sector grew in June by slightly more than expected, according to an industry report released on Wednesday.
The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.5 from 52.8 the month before, the highest level since January. The reading topped expectations of 53.1, according to a Reuters poll of economists.
A reading above 50 indicates expansion in the manufacturing sector.
New orders rose to 56.0 from 55.8. The gauge of prices paid was unchanged at 49.5, compared with expectations of 51.0.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South-east Asia heat wave shuts schools, stokes power demand
Star Entertainment chair Foster steps down, adds to management exodus
Fading bets of early RBA cuts frustrate Albanese reelection plan
France moves to acquire key activities of tech giant Atos
Hamas says no ‘major’ issues, as Gaza truce effort builds
Thai power demand hits record as extreme heat prompts warnings