Summary Box: Manufacturing activity slows in July

AP News
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Posted: Aug 01, 2011 4:49 PM
Summary Box: Manufacturing activity slows in July

BARELY GROWING: Manufacturers had their weakest growth in two years in July, the Institute for Supply Management said Monday. The trade group's manufacturing index fell to 50.9 in July from 55.3 in June.

LESS DEMAND: New orders shrank for the first time since the recession ended. High fuel prices and stagnant income have weighed on U.S. consumer demand in recent months.

WEAK TREND: The economy grew in the first half of the year at the slowest pace since the recession ended, the government said last week. The dismal manufacturing report signals that the economy could weaken further this summer.