The ISM's manufacturing PMI indicates continued contraction in the sector, despite slight improvements in employment; the overall outlook suggests subdued activity ahead.
Conrad DeQuadros of Brean Capital remarked, 'No bar to a September rate cut here but nothing to push the Fed to a half-point cut either,' indicating the delicate balance of economic pressures.
The manufacturing sector remains under pressure, demonstrated by the PMI's reading below 50 for five consecutive months, highlighting ongoing struggles amidst some growth areas.
Despite the challenges, hard data suggests that manufacturing is stabilizing, with demand for goods holding up, even as the Federal Reserve gears up for rate cuts.
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