“Near Stalling Of Production” – US Manufacturing Surveys Collapsed In July | ZeroHedge

The start of the third quarter saw a deterioration in business conditions at US manufacturers as new orders declined for the first time in three months, according to S&P Global.

This makes sense as we have seen 'hard' US macro data serially disappoint for three months.

  • S&P Global US Manufacturing PMI falls to 49.6 in July, dropping into contraction for the first time since Dec 2023.

  • ISM Manufacturing PMI plunged to 46.8 (48.8 exp) – weakest since Nov 2023 (near post-COVID lockdown lows)

Source: Bloomberg

Rubbing some salt in the wounds was the fact that Prices Paid rose while New Orders tumbled and Employment puked (to the lowest since COVID lockdowns)…

Source: Bloomberg

Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, said:

But William son has an excuse for this downturn…

The question is – if the Democrats win, will this downturn accelerate?

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