Manufacturing business conditions remained positive in June, according to a report released Monday, despite slower growth in output, new orders and employment.
The IHS Markit U.S. Manufacturing Purchasing Managers' Index fell to 52 in June from 52.7 in May, the fifth consecutive monthly decline. The expansion of manufacturing production last month rose at the slowest pace since September.
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Readings above 50 represent expansion, while prints below that level reflect contracting activity.
More than one-third of survey participants expect a rise in production volume over the next year. However, "forward-looking indicators suggest that the risks are weighted to the downside for coming months," said IHS Markit Chief Business Economist Chris Williamson.
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(END) Dow Jones Newswires
July 03, 2017 11:03 ET (15:03 GMT)