Final S&P Global composite PMI for June beats preliminary estimates, signaling modest economic growth amid sector shifts.
The US S&P Global composite PMI climbed to 51.9 in June, up from a preliminary 52.2 and May’s 51.5, reflecting a slight acceleration in economic activity. The services PMI rose to 51.2 from 50.7 in May, offsetting a marginal dip from the preliminary 51.3 print.
May’s composite reading stood at 51.5, with services at 50.7, marking a steady but modest expansion. The data suggests resilience in the services sector, though growth remains uneven across industries.
Markets reacted with mixed sentiment as tech stocks rallied on strong memory demand, while quant funds faced their worst weekly rout since 2023, losing over 3% amid momentum unwinds.