- ISM manufacturing index decreases to 59.5 in July
- New orders measure falls, employment gauge rises
WASHINGTON, Aug 2 (Reuters) – U.S. manufacturing activity grew at a slower pace in July for the second straight month as raw material shortages persisted, though there are signs of some easing in supply-chain bottlenecks.
The survey from the Institute for Supply Management (ISM) on Monday showed a measure of prices paid by manufactures fell by the most in 16 months, while the supplier deliveries index retreated further from a 47-year high touched in May.
Timothy Fiore, chair of ISM’s manufacturing business survey committee, noted