Mumbai, Aug. 4 -- Manufacturing activity in the US contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction. Following this, the manufacturing PMI fell to its lowest level since hitting 46.9 in October 2024. The employment index also dipped to 43.4 in July from 45.0 in June, suggesting the manufacturing sector lost jobs at a faster rate. The headline index is at a nine-month low now.
Published by HT Digital Content Services with permission from Capital Market....