- The Composite Purchasing Managers Index (PMI) captures business conditions in the manufacturing and service sectors.
- The Composite PMI decreased to 59.7 in July from 63.7 in June, a 4 month low.
- Manufacturing PMI increased to 63.1 in July from 62.1 in June.
- Services PMI decreased to 59.8 in July from 64.6 in June.
- Consensus among economists was a gain of 0.2, but in reality the Services PMI fell 4.8 over the month.
- The Right Facts will continue to monitor manufacturing PMI.