BlockBeats news, on August 3, S&P Global Market Intelligence Chief Business Economist Chris Williamson said: "Although the U.S. PMI figures for July remained stable, the underlying survey data reveals some warning signs for future growth trajectories. Production growth slowed noticeably in July, linked to a third consecutive month of weak new business growth, reflecting a reduction in inventory overhang following an unusually strong buildup of precautionary inventories in the second quarter."
In addition, increased pressure has been exacerbated by prolonged supply chain delays, declining exports, and heightened customer resistance to high prices. Although inflationary pressures on raw material costs have slightly eased, inflation remains elevated due to persistently high energy prices and tariffs.
In response, manufacturers either attempted to raise prices to protect profits or sought to improve production efficiency, resulting in persistently high factory gate price inflation in July, while job growth also slowed. Under these conditions, business optimism about the economic outlook has fallen to its lowest level since October last year, highlighting downside risks to the short-term outlook.