USA: Manufacturing PMI Revised Down in June.

The S&P Global US Manufacturing PMI was sharply revised down to 53.9 in June 2026, significantly below the preliminary estimate of 55.7 and May’s final reading of 55.1. Despite the drop, the latest figure marked the eleventh straight month of expansion, indicating a solid improvement in operating conditions, though the weakest in three months. Output and new orders continued to rise, albeit at slower yet historically strong rates, driven by new product launches and pre-orders to hedge against rising prices. Input costs increased sharply due to higher raw material prices, though the rise was softer than May’s peak. Selling price inflation also eased to a three-month low. However, job cuts accelerated to the fastest pace since May 2020, the quickest outside the pandemic since October 2009. Business optimism for the year ahead also declined for the second consecutive month, hitting its lowest level since October 2025.