This article has been translated from English to Gen Z Slang.
S&P Global’s flash PMIs are giving us the tea ☕️ that U.S. biz vibes are still vibin' in June, but like, they're running out of gas a bit, with the composite PMI chilling at 52.8 from a solid 53.0 in May.
Still breakin' the critical 50 barrier, which is kinda important, but like, the glow-up isn’t as lit as late 2024 and now it’s hitting a two-month slump.
- Flash Manufacturing PMI for June: 52.0 (same as last time 🤷♀️)
- Flash Services PMI for June: 53.1 (down from 53.7, yah, a two-month low)
- Flash Composite PMI for June: 52.8 (slightly slid from 53.0, again with the two-month low)
If PMIs are super sus to you, no prob! We got you covered with a guide to Purchasing Managers Index (PMI) on Forexpedia. 📚
But hey, at least manufacturing didn’t budge. The index is steady at 52.0, when everyone kinda thought it’d dip to 51.0. Factories snapped outta their funk for the first time since February, hitting 51.5 'cause they’re loading up on stock. Firms are stockpiling at a speed not seen in three years, likely prepping cuz of those pesky tariffs.
Services are feeling the chill, slipping to 53.1 from a chill 53.7, though it’s still a smidge better than people thought. What kinda sucked was the nosedive in export orders. Services faced their biggest quarterly #fails since late 2022, 'cause exports just weren’t it.
Link to S&P Global U.S. Flash PMIs for June 2025
Big thing: prices going all wild 🌡️. Manufacturing input costs zoomed up to the highest since July 2022, with a whole squad (like, two-thirds) blaming tariffs. Services are in the same boat too 'cause tariffs are making input costs like food rise, but they’re at least fighting for lowest-price champ.
Hiring was a total #win. Companies hustled to keep up with growing workloads and backlogs climbed the charts to a three-year high. That meant the biggest glow-up in hiring in a year! Manufacturing got a job growth crown, and services saw a five-month high in new hires. 🙌
The inflation rollercoaster thanks to tariffs is getting the Fed all sus about dropping rates. As they said at S&P Global, the info “is spilling the beans that the Fed’s gonna chill on cutting rates for a bit to see how strong the economy flexes and how long this inflation party lasts.”
Market Reactions
U.S. dollar vs. Major Currencies: 5-min
Overlay of USD vs. Major Currencies Chart by TradingView
The U.S. dollar, looking like it was pre-gaming before the U.S. sesh, kept dropping at the PMI drop, even though it was like a mixed bag but mostly chill data.
NGL, the Greenback got a lil' support vibes around the London closing, but then dipped again when Iran was triggering drama by hitting up U.S. military bases, stirring the geopolitics pot even more. 🌪️
The dollar ended the day in the loser’s club, tanking the most against European euros and pounds (EUR and GBP), while staying sorta meh against CAD and JPY. 🤷♂️
