US Manufacturing Contracts for 4th Consecutive Month in June

The U.S. manufacturing sector’s economic activity shrank for the fourth straight month in June as businesses tackled tariff concerns, the Institute for Supply Management (ISM) said in a July 1 statement.

While ISM’s Purchasing Managers’ Index (PMI) rose 0.5 percentage points in June from May, it remained at 49 percent, below the 50 percent threshold. A PMI reading below 50 percent is an indication that industries in the manufacturing sector are generally contracting.