US composite PMI lower than expected in June

Flash U.S. Composite Output Index at 53.0 (53.6 in May). 3-month low.

Flash U.S. Services Business Activity Index at 53.0 (53.6 in May). 3-month low.

Flash U.S. Manufacturing PMI at 52.1 (52.7 in May). 9-month low. Flash U.S. Manufacturing Output Index at 52.9 (53.7 in May), 9-month low.

U.S. private sector firms recorded a further solid expansion of business activity in June, but there was a loss of momentum since May. This was highlighted by the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index falling from 53.6 to 53.0 in June. The latest reading signalled the slowest upturn in business activity for three months. Companies operating in both the service economy (‘flash’ business activity index at 53.0 in June) and manufacturing sector (‘flash’ output index at 52.9) experienced a growth slowdown since May. The latest increase in manufacturing output was the least marked since September 2016.