The U.S. manufacturing sector unexpectedly contracted in June for the first time since July 2009 as new orders tumbled, according to an industry report released on Monday.
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The Institute for Supply Management said its index of national factory activity fell to 49.7 from 53.5 the month before, missing expectations of 52.0, according to a Reuters poll of economists.
A reading below 50 indicates contraction in the manufacturing sector.
New orders dropped to 47.8 from 60.1, while the employment gauge slipped to 56.6 from 56.9.