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U.S. Economic Indicators Signal Continued Manufacturing Contraction, Cryptocurrency Markets Watch Closely
U.S. Economic Indicators Signal Continued Manufacturing Contraction, Cryptocurrency Markets Watch Closely
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BTCCSquare news:
The U.S. Manufacturing PMI fell to 48 in July, missing expectations of 49.5 and marking the fifth consecutive month of contraction. New orders and backlogs declined, leading to reduced employment and raw materials inventories. Susan Spence of the Business Survey Committee noted the index remains above the critical 42.3 threshold, suggesting underlying economic resilience despite the downturn.
Cryptocurrency investors, once indifferent to traditional economic reports, now scrutinize such data for macro trends affecting digital assets. The Production Index edged up to 51.4, while the Prices Index held in expansion territory—a potential signal of persistent inflationary pressures that could influence Fed policy and crypto market liquidity.
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