The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in July was 52.2, down 0.5 points from June. Manufacturers cited a drop in demand, difficulty filling open positions and insufficient raw materials as part of the decrease in production.
The PMI index is composed of five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials. A reading above 50 indicates growth. IHS Markit and S&P Global merged earlier this year. See S&P Global