The U.S. ISM manufacturing PMI slipped to 49.0 from 50.2, this is the first sub 50.0 reading since May 2020
The decline of 1.2 index points has pushed the reading further from its 6-month average of 51.5
8 out of 10 subcomponents are throwing readings below expansionary levels, the most weakness is seen in backlog orders showing a 5.3 decline to 40.0
On the month, supplier deliveries was the only subcomponent to rise
Prices paid extended declines to 43.0, the lowest since May 2020
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