U.S. manufacturing activity expanded for an eleventh consecutive month in June but at a slower pace than expected. The S&P Global PMI fell to 53.9, down 1.2 points from the prior month and below forecasts.
The June reading marked the lowest level in three months. May's figure was revised to 55.1.
Supply chain delays and upward price pressures continued but eased amid recent improvements in the Middle East situation. Manufacturers noted further gains in output and order books.
The data came in below the 55.7 consensus forecast.
