U.S manufacturing grew in June at its slowest pace in 11
months and hiring in the sector slowed as overseas demand for U.S. products
waned, an industry survey showed on Thursday Reuters writes.
The number of Americans filing new claims for unemployment
benefits was also little changed last week, according to the U.S. Labor
Department.
Financial information firm Markit said its U.S. "flash"
manufacturing Purchasing Managers Index fell to 52.9 from 54.0 in May. The June
reading was the lowest since last July although it stayed above 50, indicating
expansion in activity. For the second
straight month, weaker demand from Europe and large emerging markets such as
China dented sales. Markit said U.S. manufacturers reported the second largest
decline in new export orders since September 2009….
Read all about it at http://www.cnbc.com/id/47902094
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