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Economic Buzz: Worldwide manufacturing conditions see slight deterioration in July
04-Aug-2025 11:52
Worldwide manufacturing business conditions deteriorated slightly in July, reflecting downturns in output, new orders, exports and employment. Business confidence about the year ahead slipped to a three-month low. The latest surveys showed signs of a fading impact from the recent front- running of US tariffs alongside ongoing concerns about the underlying strength of economic conditions in the months ahead. The J.P.Morgan Global Manufacturing PMI- a composite index produced by J.P.Morgan and S&P Global Market Intelligence in association with ISM and IFPSM - posted 49.7 in July, down from 50.4 in June, falling back below the neutral 50.0 mark that separates growth from contraction. Manufacturing production declined for the second time in the past three months, although the rate of contraction was only moderate. Data broken down by sector reinforced the sense of a reversal in fortunes. After seeing mild growth in June, all three of the industries covered (consumer, intermediate and investment goods) saw modest downturns in production during the latest survey month.

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