US business activity jumps to a 4-month high in June, showing that the shock of the coronavirus pandemic is easing
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REUTERS/Chris Keane

IHS Markit's flash US purchasing managers index jumped to 46.8 in June, from 37 in May, the company reported Tuesday. 

It's the highest the index has reached since the coronavirus crisis hit the US. Still, any reading of less than 50 signals a contraction. 

"The improvement will fuel hopes that the economy can return to growth in the third quarter," said Chris Williamson, chief business economist at IHS Markit, in the report.

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