US Manufacturing Activity Contracts for a Ninth-Straight Month
- ISM manufacturing index edged up to 46.4 in July, est. 46.9
- Employment index at three-year low, new order gauge rose
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US factory activity contracted in July for a ninth-straight month, reflecting tepid demand for American merchandise at home and abroad.
The Institute for Supply Management’s gauge of factory activity edged up to 46.4 last month, according to data released Tuesday. Readings less than 50 indicate contraction, and the latest figure came in just below expectations.