U.S. July PMI data remains stable, but warning signs for future growth are present

According to Jinshi reports, S&P Global Market Intelligence Chief Business Economist Chris Williamson stated that although the PMI index in the U.S. remained stable in July, the survey data behind it shows some warning signs for future growth trajectories. The production growth rate significantly slowed in July, and new business growth has been weak for the third consecutive month, reflecting a reduction in inventory backlog.

Increased supply chain delays, declining exports, and customer resistance to high prices have also brought pressure. Although inflation in raw material costs has slightly eased, inflationary pressures remain high, and corporate optimism about the economic growth outlook has fallen to its lowest level since October of last year.