June ISM numbers disappointed, but not dramatically, with the PMI, or Purchasing Managers’ Index, falling from 59.7 in May to 56.2 in June.
The good news is that the manufacturing sector has expanded for the 11th consecutive month.
The difficult news is that there is a clear slowdown from May’s numbers, another sign that confidence in the recovery may be ebbing.
Notably, new orders also declined, off 7.2%.
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