US Factory Activity Shrinks for Third Month as Prices Moderate
- ISM June factory index little changed from May at 48.5
- Measure of prices paid declined by most since May 2023
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US factory activity contracted slightly for a third straight month in June, while a measure of prices fell by the most in more than a year.
The Institute for Supply Management’s manufacturing gauge was little changed at 48.5 compared with 48.7 a month earlier, data out Monday showed. The gauge remains modestly below the reading of 50 that separates contraction and expansion.