US manufacturing slows in June
US manufacturing activity slowed down in June, recording a decline after an increase the previous month, amid assessments of developments related to the war with Iran and rising costs associated with artificial intelligence. The Purchasing Managers' Index (PMI) stood at 53.3 points, down from May's 54.0 points, with growth still ongoing according to data indicating economic expansion as long as the reading stays above 50 points. Factory orders also declined, despite inventory rebounding after the ceasefire agreement with Iran. Meanwhile, the price index remained high at 73.0 points, with expectations of continued cost increases driven by AI technologies.
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