美国制造业延续低迷，工厂就业率创五年来最低

Core Viewpoint - The U.S. manufacturing sector continues to experience a downturn, with factory employment reaching its lowest level in five years due to rising import material costs from tariffs [1] Manufacturing Sector Summary - The ISM manufacturing PMI index fell from 49.0 in June to 48.0 in July, indicating a contraction in the manufacturing sector, which constitutes 10.2% of the U.S. economy [1] - The new orders sub-index increased from 46.4 in June to 47.1 in July, but it has still contracted for six consecutive months [1] - The production index rose from 50.3 to 51.4, suggesting an increase in output, yet factories continue to lay off workers [1] - The employment index dropped from 45.0 in June to 43.4 in July, marking the lowest level since July 2020 [1] - ISM noted that the pace of layoffs is accelerating due to uncertainties in demand in the near to mid-term [1]