US Sectors Show Mixed Performance in July

Purchasing managers’ indices (PMIs) in the United States showed a mostly positive performance during the month of July, according to data by IHS Markit.

Four out of seven sectors expanded in activity in July, while the others showed slower rates of decline compared with June, reflecting the uneven impact of the coronavirus disease (COVID-19) pandemic on different industry sectors.

The healthcare sector saw the biggest expansion.

“Beyond healthcare, the recovery in private sector output was led by consumer goods production, followed closely by basic materials. The latter saw a notable turnaround in comparison to the situation during June.”

“Business activity was broadly unchanged across the industrials category, while technology firms indicated a modest decline in output levels during the latest survey period.”

Meanwhile, the consumer services sector was unsurprisingly the weakest performing due to the challenging business conditions.