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US manufacturing rises in June

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US manufacturing expanded in June but factory employment weakened, according to the latest data released by the Institute for Supply Management.

As News.com.au reports, the US purchasing managers index (PMI) for manufacturing rose to 50.9 in June. This represents an increase of 1.9 points over the May figure of 49.

Readings over 50 indicate expansion, while figures under 50 indicate contraction. The May PMI was the first reading under 50 since November 2012.

Analysts expected a reading of just 50.5 but the figure of 50.9 indicates that the manufacturing sector is still not strong. 

The ISM new orders increased to 51.9 in June, compared to 48.8 in May. The exports index for June was 54.5, compared to 51.0 in May.

The production index increased to 53.4 in June after it fell to 48.6 in May.

The employment index for June fell to 48.7, compared to 50.1 in May. This was the first reading of less than 50 since September 2009.

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