Markit Manufacturing: "New Orders Return To Growth In June"

The June US Manufacturing Purchasing Managers' Index conducted by Markit came in at 50.6, up 0.1 from the 50.5 final May figure. Markit's Manufacturing PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction.

Here is an excerpt from Chris Williamson, Chief Business Economist at IHS Markit in their latest press release:

"US manufacturers reported business conditions to have remained the toughest for nearly a decade in June. The past two months have seen the lowest readings since the height of the global financial crisis in 2009." [Press Release]

Here is a snapshot of the series since mid-2012.

 

Here is an overlay with the equivalent PMI survey conducted by the Institute for Supply Management (see our full article on this series here, note that ).

 

The next chart uses a three-month moving average of the two rather volatile series to facilitate our understanding of the current trend.