US manufacturing PMI falls below 50.0 for first time this year in July

From pmi.spglobal.com

Operating conditions in the US goods producing sector worsened slightly in July as demand stagnated and tariff uncertainty continued to dominate the manufacturing landscape. International sales were reported to have fallen and uncertainty over federal government policies weighed on sentiment. Employment declined in response, whilst inventory control also added to the deteriorating manufacturing picture with firms reducing their stock holdings as previous efforts to front run tariffs dissipated. On the price front, input costs continued to rise steeply, again linked to tariffs, although the rate of inflation softened ... (full story)