Markit Economics said Friday that its measure of job creation in the U.S. manufacturing sector found a 13-month low.
Its broader reading for the sector came in at 55.8, short of expectations for 56.5 and behind a prior reading month’s of 56.3.
“Companies have become increasingly cautious about taking on new staff given growing uncertainties, such as the escalating situations in Russia and Gaza,” Markit chief economist Chris Williamson said. “With overseas worries likely to hit demand in key export markets, and exports having already stagnated in the past two months, overseas trade looks likely to continue to act as a drag on the US economy.”
Meanwhile, the Institute for Supply Management’s manufacturing survey came in at 57.1, topping the consensus for 56.0, and the June reading of 55.3. The prices paid survey hit 59.5, ahead of the forecasted 58.0 and June’s 58.0 figure.
Here’s Markit’s table:
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