Growth in business activity in the U.S. accelerated for the third consecutive month in June, boosted by strong growth in demand and output in the manufacturing sector.
S&P Global said its flash composite purchasing managers index rose to a five-month high of 52.2 from 51.5 in May. That was a larger increase than economists had anticipated.
The PMIs are derived from surveys of supply chain managers and corporate executives. The preliminary readings are labeled “flash” because they include only a portion of the responses. The composite PMI includes responses from executives in both the services and manufacturing sectors.
The flash manufacturing…
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