US manufacturing growth tapers in July
By Caroline Valetkevitch |
August 4, 2010, Wednesday
|
Print Edition
Print Edition
UNITED States manufacturing grew in July at its slowest pace this year as the stream of new orders tapered off, pointing to a further slackening in the economic recovery.
Still, the manufacturing index was better than many analysts had expected and boosted US stock prices.
Manufacturing has been leading the US recovery, which started in the second half of 2009, and though recent data has suggested weakness, most economists still see low probability of another severe downturn soon.
Other data showed manufacturing picked up in the eurozone in July, while it shrank in China for the first time since March 2009.
The Institute for Supply Management said on Monday its index of national factory activity fell to 55.5 in July from 56.2 in June, the third consecutive monthly decline. An updated median forecast by 74 economists surveyed by Reuters was for 54.2.
A reading above 50 reflects expansion. However, July's measure was the lowest reading since December.
Also, the new orders index dropped to 53.5 in July from 58.5 in June, to its lowest level since June 2009.
Federal Reserve Chairman Ben Bernanke said the economy, though improving, is still short of full recovery.
Still, the manufacturing index was better than many analysts had expected and boosted US stock prices.
Manufacturing has been leading the US recovery, which started in the second half of 2009, and though recent data has suggested weakness, most economists still see low probability of another severe downturn soon.
Other data showed manufacturing picked up in the eurozone in July, while it shrank in China for the first time since March 2009.
The Institute for Supply Management said on Monday its index of national factory activity fell to 55.5 in July from 56.2 in June, the third consecutive monthly decline. An updated median forecast by 74 economists surveyed by Reuters was for 54.2.
A reading above 50 reflects expansion. However, July's measure was the lowest reading since December.
Also, the new orders index dropped to 53.5 in July from 58.5 in June, to its lowest level since June 2009.
Federal Reserve Chairman Ben Bernanke said the economy, though improving, is still short of full recovery.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
