June flash manufacturing PMI at 11-month low (by Steve Goldstein)
WASHINGTON (MarketWatch) -- Manufacturing activity in the United States grew at the slowest pace in June in 11 months, according to the flash purchasing managers index released by Markit on Thursday. The flash PMI slowed to 52.9% from 54.0% in May. New export orders notably fell below the 50% mark indicating contraction, sliding to 48.9% from 50.5%. The flash indicator is based on 85% to 90% of responses.