Singular Bank | According to the preliminary reading for June, the US manufacturing PMI remained stable at 52.0 points, above analysts’ consensus estimates (51.1 points). In contrast, the services sector PMI declined slightly to 53.1 points (against 53.7 points in May). Despite this, the result was better than the consensus of analysts (52.9 points).
Given this development, the US composite PMI fell slightly to 52.8 points (against 53.0 points in May), mainly due to the decline in exports of goods and services in the face of trade war 2.0. However, the composite leading indicator remains in expansionary territory and above analysts’ consensus estimates (52.2 points).
