The Institute for Supply Management® reported a US PMI of 52.6 percent for June which represents the first month back to growth territory since the COVID-19 shutdowns. In fact, the figure eclipsed a strong pre-COVID January number of 50.9 and is the highest month for US manufacturing since April of 2019. The promising June performance rolled out to other countries as well, with China continuing to progress as the Caixin Manufacturing index reported a 51.2 number. The Euro Zone, Germany and Italy also showed improvement, but all remained in contraction territory under the 50 percent mark.
