U.S. economy running close to 2% growth rate in second quarter, S&P says

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U.S. economy running close to 2% growth rate in second quarter, S&P says
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S&P Global said Friday that U.S. PMI data for June shows the U.S. economy running close to a 2% rate in the second quarter.

This version corrects the manufacturing PMI data which fell to a six-month low of 46.3 in June from 48.4 in the prior month.

Economists surveyed by the Wall Street... This version corrects the manufacturing PMI data which fell to a six-month low of 46.3 in June from 48.4 in the prior month. On the other hand, manufacturers recorded the fastest rate of contraction in new orders since last December. They linked the drop to muted consumer confidence. Foreign client demand was also subdued.

Big picture: The S&P PMIs try to look ahead at the health of the economy, a critical question with even Federal Reserve officials saying that the outlook for the U.S. is hidden in a fog.

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