US Manufacturing PMI Misses Forecasts at 53.3 Amid Mixed Labor Signals

The latest data showed US ISM Manufacturing PMI slipping to 53.3 in June, below the 54.0 estimate and prior reading, pointing to slower factory growth. This follows a string of mixed labor-market signals: consumer confidence fell to 91.2 as the share saying jobs are 'hard to get' hit 22.5%, while job openings reached a two-year high of 7.6 million but new hires stayed weak at 5.17 million. Markets had already priced in softer payrolls expectations via Kalshi, and the S&P 500 edged higher on the combined readings. The cooler prices-paid component at 73.0 reinforced disinflation hopes ahead of the key nonfarm payrolls release.