The final June reading is 47.2, the lowest in 3 months and the fifth month in a row in contraction
- the preliminary was 47.5
- May was 49.7
Some of the comments from the report:
- manufacturing
sector’s key activity indicators have softened to the cyclical
lows seen earlier in the year - Manufacturers are marginally
scaling back production through reduced headcounts
and inventories in response to prolonged difficult trading
conditions in the sector - employment index dipped back below the neutral level.
Manufacturers, on average, have been gradually reducing
headcounts throughout 2024 - margin
pressures in the manufacturing sector appear to be picking
up. The input price index climbed significantly to 58.4 in June,
which, while slightly down on the prior month, is above the
average reading of 56.0 seen over the first four months of
the year. The rise in input price pressures doesn’t appear to
have been passed onto consumers, with the output price
index remaining subdued at cyclical lows in June.
This article was written by Eamonn Sheridan at www.forexlive.com.
