U.S. private sector firms signalled a notable slowdown in the rate of output contraction in June, as businesses began to reopen on a larger scale. Manufacturers and service providers alike registered much softer declines in output compared to May. Adjusted for seasonal factors, the IHS Markit Flash U.S. Composite PMI Output Index posted 46.8 in June, up from 37.0 in May, indicating that the rate of contraction slowed further from April’s record low. The decrease was the softest since February, before the pandemic escalated. The composite index is based on original survey data from IHS Markit’s PMI surveys of both ... (full story)