{"id":432620,"date":"2026-06-23T20:45:05","date_gmt":"2026-06-23T13:45:05","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-june-sp-global-flash-services-pmi-51-3-vs-51-0-432620\/"},"modified":"2026-06-23T20:45:05","modified_gmt":"2026-06-23T13:45:05","slug":"us-june-sp-global-flash-services-pmi-51-3-vs-51-0","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-june-sp-global-flash-services-pmi-51-3-vs-51-0-432620\/","title":{"rendered":"US June S&amp;P Global flash services PMI 51.3 vs 51.0"},"content":{"rendered":"<div>\n<ul>\n<li class=\"listItem-bmN0_SHH listItem--lightning-bmN0_SHH\"><a href=\"https:\/\/investinglive.com\/news\/us-may-flash-services-pmi-509-vs-511-expected-20260521\/\" target=\"_blank\" rel=\"follow\">Prior <\/a>51.0<\/li>\n<li class=\"listItem-bmN0_SHH listItem--lightning-bmN0_SHH\">Manufacturing PMI 55.7 vs 54.8 expected<\/li>\n<li class=\"listItem-bmN0_SHH listItem--lightning-bmN0_SHH\">Prior 55.3<\/li>\n<li class=\"listItem-bmN0_SHH listItem--lightning-bmN0_SHH\">Composite PMI 52.2 vs 51.7 prior<\/li>\n<li class=\"listItem-bmN0_SHH listItem--lightning-bmN0_SHH\">Employment fell for a second month running <\/li>\n<li class=\"listItem-bmN0_SHH listItem--lightning-bmN0_SHH\">Companies\u2019 expectations for output in the year ahead<br \/>\nimproved in June to the brightest since February<\/li>\n<\/ul>\n<p>That&#8217;s a 49-month high for manufacturing but on the composite side, overall growth is still sluggish and the report says companies cut back on staffing. Good news was on prices which showed signs of cooling from sizzling-hot levels.<\/p>\n<p>Chris Williamson, Chief Business Economist at S&amp;P<br \/>\nGlobal Market Intelligence said there was sluggish service sector growth contrasting with<br \/>\nan increasingly solid manufacturing expansion.<\/p>\n<p>\u201cBrighter news out of the Middle East has helped restore<br \/>\nsome confidence among US businesses in June, though<br \/>\nthe overall rate of economic growth signalled by the flash<br \/>\nPMI survey remains relatively sluggish compared to that<br \/>\nseen earlier in the year in the lead up to the conflict. The<br \/>\nsurvey signals that current output levels are consistent<br \/>\nwith the economy struggling to grow much faster than a<br \/>\n1% annualized rate in the second quarter.<br \/>\n\u201cThe service sector continues to grow at an especially<br \/>\nsubdued pace, reflecting push-back from customers<br \/>\nover high prices amid low levels of consumer confidence<br \/>\nin particular. While there is better news from the<br \/>\nmanufacturing sector, we remain concerned as factory<br \/>\ngrowth continues to be temporarily buoyed by inventory<br \/>\nbuilding amid supply fears. Supply delays grew more<br \/>\nwidespread in June.<br \/>\n\u201cMost worrying was the further fall in employment,<br \/>\nnotably in the manufacturing sector. Factory job cuts<br \/>\nare running at the highest since 2009 if the pandemic<br \/>\nis excluded, reflecting concerns over the sustainability<br \/>\nof the recent upturn in demand alongside worries over<br \/>\nthe escalating cost of raw materials. However, while still<br \/>\nrunning at one of the highest rates seen over the past four<br \/>\nyears, input cost inflation has shown sign of cooling in<br \/>\nJune thanks in part to the lower energy prices seen at the<br \/>\ntail end of the survey data collection period.\u201d<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\">For background, the S&amp;P Global US PMIs are monthly surveys of senior purchasing and operating executives at private-sector companies, run separately for manufacturing and services and combined into a headline composite. They are produced by S&amp;P Global Market Intelligence, the operation that absorbed IHS Markit, and are modeled on the same diffusion-index methodology used across its global PMI franchise covering more than 40 economies.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\">The &#8220;flash&#8221; releases are preliminary estimates published roughly a week before month-end, based on about 75% to 85% of the total monthly survey responses. Final readings follow at the start of the next month once the remaining replies are collected. The flash is among the earliest cyclical reads on a given month, which is the main reason markets watch it.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\">Each index is built from panel responses comparing current conditions to the prior month, scored on a 0-to-100 scale where 50 marks the line between expansion and contraction. The manufacturing PMI is a weighted composite of five subindices: new orders, output, employment, suppliers&#8217; delivery times, and stocks of purchases. The services PMI headline is the business activity index. Both surveys also publish detail on new orders, employment, input and output prices, backlogs of work, and twelve-month output expectations.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\">The manufacturing panel covers around 800 companies; the services panel is larger. Responses are weighted by company size and sector contribution to GDP. The composite output index blends manufacturing output and services activity, weighted by each sector&#8217;s share of value added.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\">In the US specifically, the S&amp;P Global manufacturing gauge competes for attention with the older, more widely cited ISM manufacturing index, and the two can diverge meaningfully because of differences in panel composition, sector weighting, and seasonal adjustment. The services figures likewise sit alongside the ISM services report. Data are seasonally adjusted, and a sister price index feeds inflation watchers.<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prior 51.0 Manufacturing PMI 55.7 vs 54.8 expected Prior 55.3 Composite PMI 52.2 vs 51.7 prior Employment fell for a second month running Companies\u2019 expectations for output in the year ahead improved&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-432620","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/432620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=432620"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/432620\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=432620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=432620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=432620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}