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American manufacturing output reached a 10-month high in June
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American manufacturing production index rose to 52.5 in June, up from 46 in May.
52.5 index · production index46 index · production index
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The key forward-looking new orders index fell to 49.2 in June, down from 51.1 in May.
49.2 index · new orders index51.1 index · new orders index
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Employment index rose to 40.7 in June, up from 34.3 in May.
40.7 index · employment index34.3 index · employment index
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Price index jumped to 50 in June, up from 43.5 in May.
50 index · price index43.5 index · price index
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Private firms cut a net 473,000 jobs in June.
473000 jobs · net job cuts
ADP employer services report, report
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American manufacturing output reached a 10-month high in June.
10 months · output period
While the headline figure remained below 50, production jumped to 52.5 from 46 in May.
Capital Economics said the index is finally at a level consistent with an actual expansion in GDP, rather than just a more modest contraction.
“The key forward-looking new orders index actually fell back slightly in June to 49.2, from 51.1, suggesting that some of the initial burst of pent-up demand may already be fading,” the consultancy added.
Employment rose to 40.7 from 34.3, while prices jumped to 50 from 43.5. But the separate ADP employer services report showed that private firms cut a net 473,000 jobs in June.
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