US PMI data for June reflects modest economic expansion, which may impact the direction of cryptocurrency markets.
S&P Global's US PMI Figures
According to **S&P Global**, the **Composite PMI** for June is reported at 52.8, down from May's 53. The **Manufacturing PMI** stands at 52, also a decrease from 51.3. This indicates modest economic expansion but with reduced momentum. Key institutions involved include **S&P Global** and the **Federal Reserve**.
Immediate Effects on Markets
Immediate effects show that cryptocurrencies and such risky assets may face potential volatility due to changes in macroeconomic signals. Past decelerations, like 2018, saw similar impacts. Stakeholders in the **crypto industry** remain watchful of Federal Reserve policies and economic forecasts.
Future Projections
KPMG projects US GDP growth of 1.2% in Q2, with consumer spending likely to slightly increase. Historical trends suggest major cryptocurrencies, including **Bitcoin** and **Ethereum**, will respond to macro shifts, influencing price and volatility.
> "GDP growth is expected to rise by 1.2% in the second quarter. Consumer spending is expected to pick up slightly, while housing remains in a rut. The risk of a recession is still too high for comfort." - KPMG Representative
Thus, the PMI data signals a slowdown in US economic growth, which could have significant impacts on financial and cryptocurrency markets.
