FX.co ★ US ISM Manufacturing PMI Drops to 46.8 in July 2024, Indicating Further Contraction

The US ISM Manufacturing PMI has shown a significant decline, dropping to 46.8 in July 2024 from 48.5 in June 2024. The latest data was updated on 01 August 2024, signaling continued challenges for the manufacturing sector in the United States.

This successive decrease in the PMI, which has now been below the critical 50-point mark for multiple months, underscores ongoing contraction within the industry. The index, which gauges the health of the manufacturing sector by surveying purchasing managers, reflects contractions when below 50, raising concerns over economic resilience amid potential headwinds.

Analysts and investors will closely monitor upcoming indicators and broader economic signals to assess whether targeted interventions or policy adjustments might be required to stabilize and eventually bolster manufacturing performance in the months ahead.