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美国非制造业PMI下滑 关税及政策不确定性影响显现
Zhong Guo Xin Wen Wang·2025-08-06 02:29

Core Viewpoint - The ISM reported that the July non-manufacturing PMI in the U.S. was 50.1, indicating a slowdown in the service sector and falling below expectations [1] Economic Indicators - The July non-manufacturing PMI decreased from 50.8 in the previous month to 50.1, reflecting a near stagnation in the service economy [1] - Employment index fell to 46.4, marking the fourth contraction in five months and reaching one of the lowest levels since the pandemic [1] - Input cost index rose to the highest level since October 2022, indicating increasing inflationary pressures [1] Market Reaction - Following the release of the ISM data, all three major U.S. stock indices closed lower, with the Dow Jones down 0.14%, Nasdaq down 0.65%, and S&P 500 down 0.49% [1] Industry Insights - Comments from the ISM highlighted concerns over tariffs and uncertainty affecting procurement planning in the accommodation and food services sector, leading to delays in the next fiscal year's purchasing plans [1] - The construction industry noted that trade uncertainties are causing clients to reassess project feasibility, resulting in delays or cancellations [1] - Steve Miller, chairman of the ISM Services Business Survey Committee, indicated that tariffs are driving up payment prices, potentially fueling inflation [1]