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🇺🇸 June flash PMI arrives with services at 51.1 and Kevin Warsh's congressional debut three weeks out
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🇺🇸 June flash PMI arrives with services at 51.1 and Kevin Warsh's congressional debut three weeks out

Macro Soup Newsroom Macro Soup Newsroom 2 min read

Flash June PMI prints today with services at 51.1, barely above the expansion line. A miss sharpens the contradiction between the hawkish FOMC dot plot and Kevin Warsh's first congressional testimony on July 14.

Bar chart titled 'United States ADP Employment Change Weekly (Thousand)' with blue bars showing weekly values from March to May, ranging 7-39.
ADP private payrolls rose to 30.75K in the latest week, the strongest reading in recent weeks and a sign of sustained labor market strength ahead of flash PMIs. Source

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