The June S&P Global US Manufacturing PMI® rose to 55.7 from 55.1 in May, as factory business conditions have improved continually since last August. Production growth accelerated to the fastest rate since July 2021, supported by new orders, which posted their largest increase since April 2022. This manufacturing expansion was partly driven by precautionary inventory building, as buyers sought to head off potential supply issues and price hikes associated with the war in the Middle East. Supply chain delays lengthened to their greatest extent since August 2022 amid shipping disruptions and tariffs, while input cost inflation moderated from May's peak but remained near four-year highs, keeping goods selling prices elevated. Conversely, employment contracted significantly, as manufacturing headcounts were cut at the fastest rate since early 2020 amid ongoing cost-reduction efforts, while overall exports of goods and services continued to fall.

The U.S. Census Bureau reported that sales of newly built homes decreased (-7.3%) month over month to 580,000 in May from a rate of 626,000. The seasonally adjusted annual rate is down (-6.8%) from a year earlier. Seasonally adjusted, home sales increased in the Midwest (+16.2%) and Northeast (+3.0%) and dropped in the West (-26.9%) and South (-4.1%). The average sale price for a new home rose to $540,600 from $501,400 the previous month, while also increasing (+5.0%) from $514,800 a year ago. The median new home sale price increased from $416,500 in April to $424,900, representing a negligible change from $424,800 in May 2025. There were a seasonally adjusted 496,000 new homes for sale as of the end of May, which is (-1.4%) below the May 2025 inventory of 503,000. The supply of new homes for sale increased to a 10.3-month supply as compared to 9.3 months the previous month.

The Commerce Department’s third estimate showed that real gross domestic product (GDP) expanded at an annualized rate of 2.1% in the first quarter, up from the 1.6% second estimate and above the 0.5% growth recorded in the fourth quarter of 2025. The increase in real GDP reflected gains across several industries, with the largest positive contributions coming from information (+0.69 percentage points), federal government (+0.69 pp), professional, scientific, and technical services (+0.41 pp), and durable goods manufacturing (+0.40 pp). These gains were partially offset by declines in retail trade (-0.47 pp) and wholesale trade (-0.35 pp). The upward revision to headline GDP primarily reflected a downward revision to imports, which was partially offset by a downward revision to consumer spending. The gross domestic purchases price index rose 3.6% and the PCE price index increased 4.6%, both revised up 0.1 pp. The core PCE price index, excluding food and energy, increased 4.4%, unchanged from the previous estimate.