U.S. and international enterprise exercise fell sharply in July, in line with surveys of buying managers, elevating recession dangers as nations face high inflation and disruptions from the Ukraine war.
The pullback in U.S. financial exercise was significantly dramatic, information agency S&P World mentioned. Its composite U.S. buying managers index fell to 47.5 in July, with a studying beneath 50 indicating a contraction. The studying—based mostly on survey information from manufacturing and providers companies—mirrored a pointy decline from final month, when the index’s charge of enlargement was 52.3.
