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US Markit manufacturing PMI for June 62.1 versus 62.6 preliminary

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US Markit manufacturing PMI for June 62.1 versus 62.6 preliminary

Preliminary estimate came in at 62.6

Markit manufacturing PMI
  • Markit manufacturing PMI (final) 62.1 versus 62.6 preliminary.  Although lower than the preliminary, the 62.1 level is still tied for the highest level since the start of the series in May 2007 (last month the index was also at 62.1)
  • May reading came in at 62.1
  • Final output index for June comes in at 58.9 versus flash reading of 59.2. May was at 59.6
  • Final input prices index came in at 82.8 versus flash reading of 83.8. May input prices was at 78.1.
  • The upturn was supported by further marked expansions in
    output and new orders, but supply chain disruptions worsened and
    weighed on production capacity. 
  • Vendor performance deteriorated
    to the greatest extent on record. Input costs meanwhile showed the
    largest jump on record, feeding through to another record rise in
    factory selling prices
  • New
    export orders meanwhile rose solidly in June, albeit at the softest
    pace for three months.
  • Suppliers’ delivery times lengthened to the greatest extent on
    record in June, as component shortages and transportation issues
    exacerbated supply-chain woes. 
  • Firms indicated a solid rise in
    employment during June. The rate of job creation was the slowest
    for six months, however, as companies reported difficulties enticing
    workers back. Labour shortages exacerbated pressure on capacity,
    as backlogs of work rose at one of the steepest rates on record. 

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