S&P Global preliminary June US manufacturing PMI rose to 55.7 from 55.1 in May,
the strongest since May 2022 and above a Reuters survey forecast of 54.8. Firms
said they were front-loading orders to guard against shortages and price
increases, supporting output growth. Factory employment slipped to a six-year
low, mainly reflecting higher operating costs linked to the Middle East
conflict. S&P Global preliminary services PMI rose to 51.3 from 50.7, lifting
the composite PMI output index to 52.2 from 51.5; the services was rebound
partly attributed to the US-Canada-Mexico joint World Cup hosting.