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June S&P Global US Flash Manufacturing, Services Measures Both Indicate Faster Expansion

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The June flash reading of manufacturing conditions from S&P Global rose to a 49-month high reading of 55.7 from 55.1 in May, in contrast with an expected decrease to a reading of 54.6 in a survey compiled by Bloomberg as of 7:35 am ET.

The index indicates faster expansion in the sector. The New York and Philadelphia Federal Reserve banks also indicated expansion.

The index for services conditions rose to a four-month high of 51.3 in June from 50.7 in May, compared with expectations for a smaller increase to 51.1.

The services index also indicates faster expansion in the sector, which is in contrast with the New York and Philadelphia Federal Reserve banks which suggested contraction.

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