PMI falls under 50 in June
Among the PMI sub-indices, the new orders index fell from the previous month and was under the 50-point mark.
The production volume index also dropped and was below 50.
The employment index slipped and indicated a contraction for the first time in 20 months.
The delivery times index rose but stayed under 50.
The gauge of purchased inventories showed a “strong decline” and was under the 50-point mark.