The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in July was 49.6, decreasing 2.0 points from June and marking the lowest reading in seven months. Manufacturers reported a decline in new orders for the first time since April.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global
