US Manufacturing Falls To Second Lowest Level Since The Crisis

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UPDATE:U.S. manufacturing grew at the slowest pace since the economy emerged from the financial crisis in 2009 this July, new data out of MarkitEconomics shows.

The headline manufacturing index declined 80 basis points during the month to 51.8.

Economists polled by Bloomberg had forecast a narrower fall to 52.0.

New orders and output both expanded in July, but did so at lower rates that recorded at the start of the summer.

Employment was one of the only areas to see better results, improving 10 basis points to 52.9.

Below, key output from the report.

Markit July Flash PMI

Photo: Markit Economics

Markit July Flash PMI

Photo: Markit Economics

ORIGINAL:

Minutes away from the first key U.S. data point of the day: Markit Flash PMI for July.

Economists polled by Bloomberg forecast the key manufacturing index declined 50 basis points to 52.0.

A reading above 50 indicates expansion.

The announcement is scheduled for 9:00 a.m.

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