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First fall in U.S. technology business activity since February 2016

Christian Fernsby |
US Sector PMI indices are compiled from responses to questionnaires sent to purchasing managers in IHS Markit's US manufacturing and services PMI survey panels, covering over 1,000 private sector companies.

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Indices are available for the basic materials, consumer goods, consumer services, financials, healthcare, industrials and technology sectors.

Technology firms registered the first fall in business activity since February 2016 in June, according to the US Sector PMITM.

The decrease in output was only fractional overall, but the technology sector was the only monitored area to signal a contraction in activity.

That said, the expansion in consumer goods remained muted overall.

Firms indicated only a marginal rate of increase in production, the second-slowest since the start of 2014.

The upturn did, however, accelerate from May's broadly unchanged level.

In contrast, healthcare firms registered a solid and faster increase in business activity in June.

The healthcare sector recorded the quickest rise in output of the monitored segments for the second month running, with the rate of growth accelerating to a three-month high.

Consumer services meanwhile signalled a renewed expansion in business activity in June.

The moderate upturn in output followed a slight contraction in May.

Industrials firms also registered an increase in output, albeit only marginal overall.

Meanwhile, basic materials and financials firms indicated a slower rise in business activity, with both sectors signalling only marginal upturns.

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