U.S. June Business Activity Shows Contraction Despite Surge

The video discusses recent PMI data for the United States, highlighting a rise in manufacturing PMI from 39.8 to 49.6, close to the forecast of 50. Services PMI increased to 46.7, below the forecast of 48, while the composite PMI rose to 46.8. These numbers indicate improvement but not yet expansion. The upcoming ISM number, expected to rise from 43.1 to 48.5, is also discussed, with potential market implications.

What does the composite PMI indicate?

What is the significance of the I SM number mentioned?