U.S. factories grow at slowest pace in two years, ISM finds, as orders decline
The numbers: A key barometer of American factories fell to a 25-month low of 52.8% in July in a sign of creeping weakness in the U.S. economy. The good news? Inflation pressures eased.
The Institute for Supply Management’s closely followed manufacturing gauge dipped from 53% in June, in no small part due to another decline in new orders. The silver lining in the report was some relief from inflation. Companies are still paying higher prices for supplies, but a gauge of inflation sank to a nearly two-year low.
Big picture: The U.S. economy has slowed since the end of last year due to soaring inflation, rising interest rates and the end of government stimulus. Gross domestic product, the official scorecard for the economy, has fallen two quarters in a row, meeting an old but informal definition of recession.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Dollar Index: Bears lead the way to the 105.60 region ahead of US ISMThe greenback, in terms of the US Dollar Index (DXY), remains on the defensive and revisits recent lows in the 105.60 region on Monday. US Dollar Inde
Read more »
Watch: HYBE/ADOR’s New Girl Group NewJeans Playfully Offers A “Cookie” In Captivating New MVNewJeans has officially dropped their first EP! NewJeans is a new five-member girl group launched by ADOR, HYBE’s sub-label headed by former SM Entertainment creative director Min Hee Jin. On July 22, the group unexpectedly released their debut music video for their first title track “Attention,” and they went on to drop music videos for
Read more »
New Jersey Lottery Festival Of Ballooning Underway In Readington, New JerseyHAPPENING TODAY🎈🎈 It's the final day of the NJ Lottery Festival of Ballooning -- the largest balloon and music festival in North America
Read more »
Star Wars: Andor gets new trailer and new release dateAndor, the Rogue One spinoff series coming to Disney Plus, has a new trailer and a new release date of September 21st.
Read more »