The ISM Manufacturing Business Survey showed that economic activity in the manufacturing sector grew less than market expectations in July, growing for the fourth consecutive month, at 59.5, down by 1.1 compared to June’s reading of 60.6 and less than market expectations, which indicated a rise to 60.8. In the details of the index, the new orders index recorded a growth of 64.9 compared to 66 in the June reading, while the production index recorded a growth of about 58.4 compared to 60.8 in the June reading.
In contrast, the price index recorded the highest growth rate since July 1979 by 85.7, and the employment index, in turn, rose to 52.9 Compared to 49.9 in the June reading.
All six major industries (computer and electronic products – manufactured metal products – chemical products – food, beverages and tobacco products – transportation equipment – petroleum and coal products) recorded moderate to strong growth in July.
The US dollar index is trading at 91.94 levels with the beginning of the American session, down by 0.15% since the beginning of the session.
07/11/2024
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