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Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
S&P Global's manufacturing activity index reflects slow global growth in July 2023, with significant contraction in Europe and relative stability in the Americas.
Global manufacturing activity remained stagnant in July 2023, suggesting that the world economy is still grappling with slow growth and the impact of weakness in China. S&P Global's worldwide manufacturing activity index remained at 48.7, the lowest level since June 2020, while factory output and new orders also slipped to six-month lows.
In Europe, manufacturing activity contracted significantly, particularly in Germany, France, and Italy. The euro zone's manufacturing PMI fell to 42.7 in July, the lowest reading since May 2020.
In contrast, the Americas exhibited relative stability, with factory activity in the U.S., Canada, Brazil, and Mexico showing signs of resilience. In Mexico, manufacturing activity even expanded to a seven-year high.
Source: Reuters
6/10 July has seen global factory activity remain sluggish, as per Tuesday's private surveys. The slowing growth and weakness in China is impacting the world economy, although the picture in the Americas seems less gloomy.
— Arman Abdul Rahman (@armanarahman) August 3, 2023
The U.S. manufacturing sector faces contraction with a PMI of 48.7 in May 2024, while manufacturing construction hits a record high. What's up with these mixed signals?
TSMC's $11.6 billion award to fund three new chipmaking factories in Arizona.
The ISM Manufacturing Index moves from contraction to expansion for the first time in 16 months.
Dell observes a sudden decline in PC demand after an initial year-over-year increase, indicating customer caution in recent months.
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