Manufacturing in U.S. Cooled in July From Five-Month High
ISM Manufacturing Data Hints at a Strong Jobs Report
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Manufacturing in the U.S. cooled in July from the highest level in five months, a sign of fitful progress in the industry.
The Institute for Supply Management’s index fell to 52.7 from a June reading of 53.5 that was the fastest since the start of the year, a report from the Tempe, Arizona-based group showed Monday. Readings greater than 50 indicate expansion. The group’s employment measure declined from a month earlier and order backlogs slumped.