US manufacturing sector shrinks; July NAPM slips to 43.6

The National Assn of Purchasing Management Index (NAPM) fell out of market expectation to stand at 43.6. It is the consecutive 12th month that the index dropped. The index hit 44.7 in June, and the market had expected that July index would hit 44.5. The index, if below 50, means that the manufacturing business is shrinking.

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