U.S. Manufacturing Output and Orders Improve in June; Employment Falls Sharply

According to S&P Global Manufacturing PMI final reading for June, U.S. manufacturing output and new orders improved significantly, while employment declined sharply as companies cut costs to offset rising energy and raw material expenses. Supply chain delays and price pressures eased amid better Middle East conditions, but business confidence fell markedly, reflecting concerns that sales may weaken once war-related inventory accumulation ends.
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