US manufacturing PMI climbs to 3-month high

By Ovunc Kutlu

ISTANBUL (AA) - The US Manufacturing Purchasing Managers’ Index (PMI) rose in June to its highest level in three months, global data provider S&P Global said Friday in a report.

The index, which measures the activity level of purchasing managers in the manufacturing sector, added 0.4 point to 51.7 in June, up from 51.3 in May, according to initial figures.

The expectation for the index was to come in at 51.0, while a reading above 50 indicates expansion and below 50 shows contraction.

"However, prospects were seen to have darkened in manufacturing, with optimism sliding to its lowest for just over one-and-a-half years and running well below the long-run average," the report said.

"Manufacturers’ commonly cited concerns over the demand environment in the months ahead as well as election-related uncertainty, notably relating to policy," it added.