(Finance) – Le US companies they reported a further expansion of commercial activity at the end of the second quarteralthough the growth rate slowed to a three-month low, according to data from the PMI indices compiled by S&P Global. Manufacturing companies reported a renewed contraction in output, while service providers saw a slower but still robust recovery in output.
The index Manufacturing PMI it stands at a level of 46.3 points in June from 48.4 points in May. The data is worse than the expectations of analysts, who estimated 48.5 points, and below the key threshold of 50 points, which acts as a watershed between expansion and contraction in the manufacturing sector.
Instead, better signals come from the tertiary sector. The Services PMI indicates a value of 54.1 points in the month of June, compared to 54.9 in May and the 54 of the consensus. The Composite PMI it stands at 53 points from the previous 54.3.
“The overall rate of business expansion in the US remained robust in June, in line with theincrease in GDP at a rate of 1.7%, which places Q2 growth in the region of 2%,” he commented Chris WilliamsonChief Business Economist of S&P Global Market Intelligence.
“However, the growth remains dependent on service sector spendingwith the manufacturing sector returning to decline after three months of growth – he added – While the improvement in supply conditions had helped to boost manufacturing output in previous months, an increasingly severe drop in new orders means that factories are running out the job”.
“The situation is brightest in the services sector, where demand is proving resilient and the recent lull in rate hikes appears to have helped bolster thebusiness optimism for the year ahead“, he stressed.
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