BLBG: U.S. ISM Manufacturing Index Fell to 50.9 in July From 55.3
The Institute for Supply Management’s factory index fell to 50.9 in July from 55.3 the prior month, the Tempe, Arizona-based group said today.
Economists projected the gauge would drop to 54.5, according to the median forecast in a Bloomberg News survey. Estimates of the 80 economists ranged from 51 to 56.
Manufacturing indexes from Asia to Europe fell last month as demand weakened and the global recovery from recession lost momentum, other reports showed. U.K., Russian and Australian manufacturing shrank, while the pace of factory growth slowed in Europe and China, according to surveys.
To contact the reporter on this story: Alex Kowalski in Washington at akowalski13@bloomberg.net
To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net
