The Markit Economics index of U.S. manufacturing fell to 52.9 in June from 53.9, the London-based group said in its preliminary estimate today.
A reading above 50 in the purchasing managers’ measure indicates expansion. The initial figure is based on replies from about 85 percent to 90 percent of those manufacturers who respond to the poll of the more than 600 companies surveyed.
The Markit gauge of U.S. manufacturing was released today for the second time. The company surveys purchasing managers in more than 30 countries and regions including Europe and China.
Other data today showed Euro-area manufacturing output shrank in June at the fastest pace in three years and a Chinese output gauge indicated contraction as Europe’s worsening fiscal crisis clouded global economic-growth prospects.
A gauge of euro-region manufacturing fell to 44.8 from 45.1 in May, Markit Economics said in an initial estimate. That’s the lowest in 36 months. The preliminary reading was 48.1 for a Chinese purchasing managers’ index from HSBC Holdings Plc and Markit. A reading below 50 indicates contraction.