The ISM’s purchasing managers index for June is expected to slip more than a point to 54.9, the lowest since July 2020. A reading above 50 indicates expansion. For context, the March 2021 reading of 63.7 marked the fastest pace of expansion in more than 37 years.Inflation watchers will pay close attention to the prices paid component. It’s expected to fall for a third month to 81.0, the lowest since February.
It is the final manufacturing PMI for June. The flash reading two weeks ago came in at 52.4, down 4.6 points from 57.0 in May and the lowest since May 2020. Spending is expected to rise 0.4% month-over-month in May, double April’s weaker-than-expected 0.2% increase.Watch shares of casino companies after Atlantic City workers reached agreements on new contracts with four casinos on Thursday, securing labor peace and avoiding a strike on Fourth of July weekend.