US manufacturing slows modestly; excess inventories a major concern

US manufacturing slows modestly;  excess inventories a major concern

Manufacturing index dips to 52.8 in July from 53.0 in June New orders contracting, supplier deliveries improving Price increases for inputs slowing; inventories piling up WASHINGTON, Aug 1 (Reuters) – US manufacturing activity slowed less than expected in July and there were signs that supply constraints are easing, with a measure of prices paid for … Read more

China’s factory activity contracts unexpectedly in July as COVID flares up

China's factory activity contracts unexpectedly in July as COVID flares up

Employees work on the production line of vehicle components during a government-organized media tour to a factory of German engineering group Voith, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China July 21, 2022. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register China July official manufacturing PMI below forecast July official services … Read more

US teetering on brink of recession as GDP contracts in second quarter

US teetering on brink of recession as GDP contracts in second quarter

Second-quarter GDP decreases at 0.9% rate Inventories account for large decline in GDP Consumer spending slows; business investment contracts Weekly jobless claims fall 5,000 to 256,000 WASHINGTON, July 28 (Reuters) – The US economy unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, … Read more