美国7月PMI数据保持稳定，但报告暗藏警示信号

Odaily News: Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, said: "Although the PMI indicators released in the United States in July remained stable, the survey data reveals some warning signs for the future growth trajectory. The pace of production growth slowed noticeably in July, which is related to weak new business growth for the third consecutive month, reflecting a reduction in inventory overhang following the exceptionally strong precautionary inventory buildup in the second quarter.

In addition, increased supply chain delays, declining exports, and further customer resistance to high prices added additional pressure. Although raw material cost inflation eased slightly, inflationary pressures remained elevated due to persistently high energy prices and tariffs.

In response, producers have either attempted to raise selling prices to protect margins or worked to improve production efficiency. As a result, factory-gate price inflation remained elevated in July, while employment growth also flattened. In the current environment, business optimism regarding economic growth prospects has fallen to the lowest level since last October, highlighting the downside risks facing the near-term outlook." (Jinshi)