US records slight slowdown
Source: Agencies |
June 21, 2013, Friday
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Print Edition
Print Edition
MANUFACTURING activity growth in the United States slowed slightly in June as the pace of hiring and overseas demand weakened, making the second quarter the weakest for the sector in the last four, a survey showed yesterday.
Financial data firm Markit said its "flash" US Manufacturing Purchasing Managers' Index fell to 52.2 in June from 52.3. A reading above 50 means growth.
June's reading was also the average for the second quarter, behind the 54.9 average in the first quarter of this year and the worst showing since the third quarter of 2012.
"Slower growth in the goods-producing sector looks likely to have acted as a drag on the wider economy," said Markit chief economist Chris Williamson.
Markit's output index rose to 53.9, a three-month high, from 52.7 in May while the gauge of new orders also rose to its highest level since March, offering some hope. But the pace of hiring slowed to 50.4 from 52.6, reflecting the weakest rate of job creation since January 2010.
Financial data firm Markit said its "flash" US Manufacturing Purchasing Managers' Index fell to 52.2 in June from 52.3. A reading above 50 means growth.
June's reading was also the average for the second quarter, behind the 54.9 average in the first quarter of this year and the worst showing since the third quarter of 2012.
"Slower growth in the goods-producing sector looks likely to have acted as a drag on the wider economy," said Markit chief economist Chris Williamson.
Markit's output index rose to 53.9, a three-month high, from 52.7 in May while the gauge of new orders also rose to its highest level since March, offering some hope. But the pace of hiring slowed to 50.4 from 52.6, reflecting the weakest rate of job creation since January 2010.
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