June flash S&P Global data shows business activity expanding at a faster pace, led by a rebound in manufacturing output.
The US S&P Global Composite PMI climbed to 52.2 in June from 51.5 in May, signaling accelerating business activity. Manufacturing output rose to 55.7, beating expectations of 54.8 and marking an improvement from May’s 55.1.
Services PMI also exceeded forecasts, printing at 51.3 compared to a 51.0 estimate and May’s 50.7. The data reflects broad-based growth, though market focus remains on Federal Reserve policy shifts.
The US Dollar held intraday gains with minimal reaction to the PMI release, maintaining strength against major currencies, particularly the Australian Dollar.