The US Chicago purchasing manager for June came in at 59.1; better than the forecasted 59.0 but lower than the prior reading of 59.7, having on one hand the production levels rising in June to 64.2 from 61.0 in May, employment climbing up to 54.2 from 49.2.

While on the other hand the prices paid plunged in June to 61.9 from 64.0, the new orders are dropping to 59.1 from 62.7, inventories falling to 46.5 from 56.4 and order backlogs plummeting to 50.7 from 62.7.