Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM’s Manufacturing Purchasing Managers Index (PMI) continued to show signs of slowing, after a slight tick up in June, as the PMI fell from 55.3 to 50.9 in July (just above the ISM’s growth threshold of 50). Every sub-index that comprises the PMI lost ground in July. Notably, the index for new orders slipped down 2.4 index points to a level of 49.2, below the diffusion index&rsqo;s growth threshold of 50 for the first time since June 2009. The employment index decreased the most in July, falling from 59.9 to 53.5, its steepest monthly decline since October 2008. Also, the production index, which had reached a cyclical high of 69.0 in March has now fallen all the way to 52.3 as of July. The prices index (which is not seasonally adjusted and does not enter into the overall PMI) continued its recent decline, slipping from 76.5 in May to 59.0 in June (its lowest level in a year).