FOREX TradingCharts.com

Financial News: U.S. Manufacturing Index Indicates Slower Growth In July

U.S. Manufacturing Index Indicates Slower Growth In July

08/01/2018 - 10:24:00 (RTTNews)

(RTTNews) - Partly reflecting slowdowns in new orders and production growth, the Institute for Supply Management released a report on Wednesday showing growth in U.S. manufacturing activity slowed by more than anticipated in the month of July.

The ISM said its purchasing managers index fell to 58.1 in July after unexpectedly climbing to 60.2 in June. While a reading above 50 still indicates growth in the manufacturing sector, economists had expected the index to show a more modest drop to 59.5.

The bigger than expected decrease by the headline index came as the new orders index slid to 60.2 in July from 63.5 in June and the production index tumbled to 58.5 from 62.3.

Meanwhile, the report said the employment index inched up to 56.5 in July from 56.0 in June, indicating a modest acceleration in the pace of job growth in the manufacturing sector.

Timothy Fiore, Chair of the ISM Manufacturing Business Survey Committee, noted production and employment continue to expand in spite of labor and material shortages.

The ISM said the supplier deliveries index dropped to 62.1 in July from 68.2 in June, although a reading above 50 still indicates slower deliveries.

"Demand remains robust, but the nation's employment resources and supply chains continue to struggle" Fiore said.

He added, "Respondents are again overwhelmingly concerned about how tariff-related activity, including reciprocal tariffs, will continue to affect their business."

On the inflation front, the prices index fell to 73.2 in July from 76.8 in June, suggesting a slowdown in the pace of price growth.

The ISM is scheduled to release a separate report on activity in the service sector in the month of July on Friday. The index of activity in the sector is expected to edge down to 59.0 in July from 59.1 in June.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Leading Economic Index Climbs More Than Expected In July (10 hr(s), 17 min(s), 44 sec(s) ago)
(RTTNews) - A report released by the Conference Board on Friday showed a bigger than expected incr ...Full Story»

U.S. Consumer Sentiment Unexpectedly Drops Amid Inflation Concerns (10 hr(s), 24 min(s), 44 sec(s) ago)
(RTTNews) - Partly reflecting concerns about inflation, the University of Michigan released a repo ...Full Story»

Poland's Average Gross Wages Rise Less Than Forecast (12 hr(s), 15 min(s), 44 sec(s) ago)
(RTTNews) - Poland's average gross wages increased less-than-expected in July, figures from St ...Full Story»

Croatia's Inflation Slows In July (12 hr(s), 33 min(s), 44 sec(s) ago)
(RTTNews) - Croatia's consumer price inflation slowed in July, figures from the Croatian Burea ...Full Story»

Turkey Retail Sales Growth Weakest In 8 Months (12 hr(s), 59 min(s), 44 sec(s) ago)
(RTTNews) - Turkey's retail sales grew at the slowest pace in eight months in June, the Turkis ...Full Story»

Italy June Current Account Surplus Rises (13 hr(s), 05 min(s), 44 sec(s) ago)
(RTTNews) - Italy's current account surplus for June increased from a year ago, data from the ...Full Story»

Hong Kong Jobless Rate Remains Stable (13 hr(s), 43 min(s), 44 sec(s) ago)
(RTTNews) - Hong Kong unemployment rate remained stable during May to July, the Census and Statist ...Full Story»

Taiwan's GDP Growth Rises In Q2 (14 hr(s), 15 min(s), 44 sec(s) ago)
(RTTNews) - Taiwan's economic growth improved in the second quarter, preliminary estimate from ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Leading Economic Index Climbs More Than Expected In July

08/17/2018 - 10:19 AM (RTTNews)
(RTTNews) - A report released by the Conference Board on Friday showed a bigger than expected incr ...Full Story>>

U.S. Consumer Sentiment Unexpectedly Drops Amid Inflation Concerns

08/17/2018 - 10:12 AM (RTTNews)
(RTTNews) - Partly reflecting concerns about inflation, the University of Michigan released a repo ...Full Story>>

Poland's Average Gross Wages Rise Less Than Forecast

08/17/2018 - 08:21 AM (RTTNews)
(RTTNews) - Poland's average gross wages increased less-than-expected in July, figures from St ...Full Story>>

Croatia's Inflation Slows In July

08/17/2018 - 08:03 AM (RTTNews)
(RTTNews) - Croatia's consumer price inflation slowed in July, figures from the Croatian Burea ...Full Story>>

Turkey Retail Sales Growth Weakest In 8 Months

08/17/2018 - 07:37 AM (RTTNews)
(RTTNews) - Turkey's retail sales grew at the slowest pace in eight months in June, the Turkis ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.