The ISM published its factory activity survey for June, where it showed an increase in its manufacturing conditions index to 50.9, versus estimates of 50.5, which came after a surprising drop to 49 in May, the lowest since 2009. A reading of 50 divides growth and contraction.
The report entailed a solid rise in the prices paid index to 52.5, from 49.5in January. Analysts had expected a rise to 50.4
Production advanced to 53.4 in February from 48.6 in the prior month. New orders index rose to 51.9, from 48.8 in January.
The index for employment dropped to 48.7 from 50.1 in January. Supplier deliveries advanced to 50.0, versus 48.7 previously. Customer inventories dropped to 45.0, from 46.0.
Also, the index for new export orders climbed to 45.5 in the last month, from 51.0 in January. Imports index rose to 56.0, from 54.5 in the previous month.