While US manufacturing continued to grow, both exports and imports dropped in July

August 2, 2019- Despite the fact that both exports and imports slowed in July, “Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 123rd consecutive month,” said the nation’s supply executives in the latest Manufacturing ISM Report On Business.

Chicago Ford Plant

Other headlines from the ISM Report read, “New Orders, Production, and Employment Growing; Supplier Deliveries Slowing at a Faster Rate; Raw Materials Inventories Contracting; Customers’ Inventories Too Low.”

New export orders dropped to a reading of 48.1 in July, down from 50.5 in June. ISM’s Imports Index registered 47 percent in July, a decrease of 3 percentage points when compared to the 50 percent reported for June, indicating that imports contracted in July after being unchanged in June.

“It is obvious that the China trade war and tariffs are hampering both exports and imports,” said Fred Baehner, IBNewsmag publisher.

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