A measure of U.S. manufacturing activity expanded in June at the fastest pace in records dating back to 2007, fueled by easing pandemic restrictions and a strengthening domestic economy. “The early PMI indicators point to further impressive growth of the U.S. economy in June, rounding off an unprecedented growth spurt over the second quarter as a whole,” Chris Williamson, chief business economist at IHS Markit, said in a statement. Even so, factories are struggling to keep pace with demand amid supplier delays, record growth in input costs and hiring difficulties.
