The Institute for Supply Management said its reading of activity from the United States producers of cars, airplanes, appliances, and food hit 50, down from 50.2 in June. New orders fell to 45.0 from 49.6, hitting the lowest level since October 2001.
The index of prices manufacturers pay for raw materials grew, but at a slower rate than June, when it hit its highest level since 1979. About 88.5% of manufacturers said prices in July were higher than June.
Industries reporting growth included electronics, food, petroleum, metals, paper, and chemicals.
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