United States: Manufacturing index remains in negative territory
August 1, 2012
In July, the ISM manufacturing index inched up 0.1 percentage points to 49.8%, undershooting market expectations, which had anticipated the index rising further to 50.1%. The figure marks the second consecutive month in which the index remains below the 50% threshold, following on 34 consecutive months of expansionary readings. The July reading mainly reflected how improvements in the inventories, production and new orders sub-components of the index were nearly offset by declines in the supplier deliveries and employment categories. According to the ISM a growing number of comments from the panel this month reflect a slowdown in their businesses and general concern over increasing economic uncertainty.