U.S. manufacturing activity showed expansion in June for the 11th straight consecutive month but dropped from may, the Institute for Supply Management said Thursday.
ISM’s monthly factory index fell to a reading of 56.2, from 59.7 in May, the group said. Figures of more than 50 indicate expansion, while below that show contraction.
The reading was lower than economists’ forecasts of a 59 reading, Bloomberg reported.
The ISM factory index measures manufacturing components of the economy.
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