US DATA: July mfg ISM text: “PMI registered 49.8 percent, an
increase of 0.1 percentage point from June’s reading of 49.7 percent,
indicating contraction in the manufacturing sector for the second
consecutive month, following 34 consecutive months of expansion. The New
Orders Index registered 48 percent, an increase of 0.2 percentage point
from June and indicating contraction in new orders for the second
consecutive month, but at a slightly slower rate. Both the Production
Index and the Employment Index remained in growth territory, registering
51.3 percent and 52 percent, respectively. The Prices Index for raw
materials registered 39.5 percent, an increase of 2.5 percentage points
from the June reading of 37 percent, indicating lower prices on average
for the third consecutive month. A growing number of comments from the
panel this month reflect a slowdown in their businesses and general
concern over increasing economic uncertainty.”