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U.S. manufacturing activity dips in July

Xinhua, August 2, 2016 Adjust font size:

U.S. manufacturing activity expanded at a slower pace in July, as manufacturers were still wary of the potential impacts from the exit of U.K. from the European Union.

The manufacturing index, also known as the purchasing managers index (PMI), registered 52.6, an decrease of 0.6 point from June's reading of 53.2, the Institute for Supply Management (ISM) said in a report on Monday.

A reading above 50 indicates the sector is generally expanding, while a reading below that level indicates contraction.

The new orders index edged down 0.1 point from the previous month to 56.9, and employment index declined 1 point to 49.4, while production index rose 0.7 point to 55.4.

Some industries surveyed said that they would keep a close eye on how Brexit will impact their business, although it has limited impact thus far. Endit