Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of June, according to a report released by the Institute for Supply Management on Monday.
The ISM said its manufacturing PMI edged down to 46.0 in June from 46.9 in May, with a reading below 50 indicating contraction. The dip surprised economists, who had expected the index to inch up to 47.2.
"The June composite index reading reflects companies continuing to manage outputs down as softness continues and optimism about the second half of 2023 weakens," said Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.