Lates News

In June, as input costs driven by war factors surged, the momentum of growth in the US manufacturing sector weakened for the sixth consecutive month. According to data released on Wednesday, the Manufacturing Index of the Institute for Supply Management (ISM) dropped 0.7 points to 53.3 points, but still maintained close to a four-year high level. The index above 50 indicates expansion in the industry, and the latest data also shows that the industry is experiencing its longest period of expansion since 2022. The rate of increase in raw material purchasing prices in June slowed significantly. The association's subindex for prices fell by 9.1 points to 73, marking the largest monthly drop since July 2022; a temporary agreement reached between the US and Iran led to a substantial drop in oil prices.