US ISM manufacturing index rose to 52.6 in June, up from 43.1, beat expectation of 49.0. The index returned to expansion region above 50 after three months of contraction. Also, the 9.5 pts rise was the largest since August 1980. Looking at some details, new orders rose 24.6 pts to 56.4. Production rose 24.1 pts to 57.3. Employment rose 10.0 pts to 42.1. Prices rose 10.5 pts to 51.3.
“As predicted, the growth cycle has returned after three straight months of COVID-19 disruptions. Demand, consumption and inputs are reaching parity and are positioned for a demand-driven expansion cycle as we enter the second half of the year, ” said Timothy Fiore, Chair of ISM Manufacturing Business Survey Committee:
