US industrial activity fell less than expected in July

The US Institute of Supply Management survey showed that the manufacturing purchasing managers' index in the United States fell to 52.8 points in July from 53.0 points in June, the lowest level since June 2020. The new orders index fell to 48.0 points in July from 49.2 points in June, which is the second consecutive monthly contraction, and the suppliers' delivery index fell to 55.2 points in July from 57.3 points in June.

The survey's gauge of prices paid by manufacturers fell to 60.0 points in July from 78.5 points in June, the lowest level since August 2020, and factory inventories rose to a 38-year high in July.