BREAKING: US PMIs drop less than expected 🇺🇸 EURUSD ticks up 📈

02:45 PM BST, United States - PMI Data for June:

• S&P Global Services PMI: actual 53.1; forecast 52.9; previous 53.7;

• S&P Global Manufacturing PMI: actual 52; forecast 51.1; previous 52.0;

• S&P Global Composite PMI: actual 52.8; previous 53.0;

The US PMI showed continued growth in June (reading above 50), though momentum slowed. Falling exports weighed on output, partially offset by inventory stockpiling due to tariff concerns. Tariffs also drove sharp price increases, especially in manufacturing. Domestic demand remained strong, supporting job creation and rising backlogs. Manufacturing output rebounded, while services softened slightly. Confidence dipped amid policy uncertainty, though manufacturers were slightly more optimistic. Overall, growth persisted but remained well below late 2024 levels.

Source: xStation5