US factory PMI rises as employment index tumbles (opens in new tab)

U.S. business activity expanded at a faster pace in June. S&P Global's flash composite PMI output index rose to 52.2 from 51.5 in May, its strongest reading in five months, as manufacturing and services both improved. The flash manufacturing PMI climbed to 55.7 from 55.1, the highest since May 2022 and above economists' expectations of 54.8; readings above 50 signal expansion. S&P Global's data showed manufacturers increased purchases and advance orders to guard against possible supply shorta...