By Evelina M. Tainer, Chief Economist, Econoday
July 3, 2003

The June employment report was not a great way to start the Fourth of July weekend given a rise in the jobless rate and another drop in nonfarm payrolls. ISM survey results were mixed as the manufacturing index remained below 50 percent in June but the non-manufacturing index reached its highest level in three years. Factory orders were somewhat better than expected, although still lackluster. Motor vehicle sales were unchanged in June. All in all, early indicators for June are not any different than previous months, showing a lackluster economy with signs of improvement here and there.