Global economy - Factories faced weaker demand, higher costs in July as Iran war grinds on
SPY•Cost pressures remain elevated globally
Cost pressures remained elevated as the Iran war underpinned energy prices.
Factories across the globe faced elevated input costs last month, the PMIs showed.
Earlier PMIs showed India's manufacturing sector expanded at its slowest pace in nearly five years as overall demand remained soft. But in contrast, Japan's factory output expanded at its fastest pace in more than 12 years with across-the-board improvements in sub-indexes, including a 4-1/2-year high surge in new orders buoyed by AI-related demand.
Manufacturing weakens across major economies
Manufacturing activity in China slowed in July as the 5-month-long war in the Middle East delivered weaker demand and elevated costs for the exporting powerhouse — a situation mirrored across much of Europe — surveys showed on Monday.
