US Manufacturing PMI dips to five-month low in July

Hilal Sarı / Istanbul, August 1 (DHA) – US Manufacturing PMI dips to five-month low in July as index declined to 55.3, down from 55.4 in June.

According to IHS Markit data;

• U.S. manufacturing firms signalled a strong improvement in operating conditions in July, despite the headline PMI falling to a five-month low
• Manufacturing sector growth remains strong, despite easing slightly in July
• Output expands at softest pace for eight months
• Inflationary pressures intensify
• Weaker rises in output and employment were seen in July, while export sales fell for the second month in a row.
• Meanwhile, companies reported the greatest deterioration in vendor performance since the series began and a faster rate of input cost inflation.
• That said, business confidence remained strongly positive, and was supported by hopes of further increases in overall new orders