Manufacturing recovery was much stronger than expected in June

[Counselor706]

Factory activity in the U.S. surged higher than expected in June, suggesting that the broader economy grew for the second consecutive month after April’s contraction.

The Institute for Supply Management’s index of manufacturing activity jumped 9.5 percentage points to 52.6 in June. The gauge of new orders rose 24.6 points to 56.4, the largest ever monthly increase. The production component of the index also rose by more than 24 points to 57.3.

Economists had expected a reading of 49, with the highest estimate in those surveyed by Econoday 51.5. June’s score was the best since April of 2019.

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[schism666]

Source

we're in a depression, miles.

 

[silver gurl]

There was a 50% backlog of orders, from March, April and May. Makes sense, yes?

 

[phrodeau]

Yep, the economy is rebounding better after Trump ruined it than it did after Bush ruined it. Maybe it will rebound even better after the next Republican President ruins it.