U.S. manufacturing activity slows further in July [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
U.S. manufacturing activity slows further in July - Reuters 5 Min Read WASHINGTON (Reuters) - U.S. manufacturing activity slowed to a near three-year low in July and a measure of new orders received by factories rebounded slightly, as the negative effects of a bitter trade war between the United States and China lingered. Other data on Thursday showed the number of Americans filing for unemployment benefits rose last week, while construction spending fell in June as investment in private construction projects tumbled to its lowest level in 1-1/2 years. The slowdown in factory activity and accompanying weak business investment have caught the attention of Federal Reserve officials. The U.S. central bank on Wednesday cut interest rates for the first time since 2008, to insure against downside risks to the economy from trade tensions and slowing global growth. Fed Chairman Jerome Powell told reporters during a news conference the preemptive monetary policy easing was “not the beginning o
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