USA: Manufacturing Sector Growth Cools in June.

The ISM Manufacturing PMI for the US fell to 53.3 in June 2026, down from 54.0 in May and below market expectations of 54. The latest reading indicated a slowdown in the manufacturing sector, as both output (52.2 vs. 54.3 in May) and new orders (56.0 vs. 56.8) grew at a slower pace. Employment remained in contraction territory, although the pace of job losses eased, with the employment index rising to 49.7 from 48.6. Meanwhile, the prices index declined sharply to 73.0 from 82.1, indicating some easing in cost pressures, though price growth remained elevated. Survey respondents continued to cite concerns over moderating but still high inflation, driven in part by the conflict in the Middle East. They also pointed to the risk of higher interest rates and ongoing policy uncertainty, particularly surrounding tariffs and global trade, as key headwinds for the manufacturing sector.