Roundup: US market suffers from Trump’s customs policy
Washington – The US labor market showed significant signs of weakness at the beginning of summer. In July, few new jobs were created, while the unemployment rate was added. In addition, the number of employees in the two months before was unusually strongly revised, as can be seen from the data from the Ministry of Labor on Friday in Washington. Economists also explain the disappointing labor market data with the effects of the US government’s aggressive customs policy.
USA: ISM shopping manager index for industry is sinking unexpectedly
Tempe – the mood in the US industry has been unexpectedly clouded in July. The shopping manager index ISM fell 1.0 points to 48.0 points, as the Institute for Supply Management (ISM) announced on Friday in pace. This has been the lowest level since October 2024. On the other hand, an average of 49.5 points.
Roundup 3/Trump’s sudden extension: tariffs on EU imports later
Washington – Donald Trump waited up to the last minute: the tariffs for EU imports in the USA do not come into force on August 1st. There is a week of extension, then it should finally be so far. Trump’s time delay gives dealers, customs officials and customers time to adapt to the new rules – this is how the US government justifies its decision. In addition, however, the US President wins further time to perhaps many more deals with other countries in favor of the United States.
USA: Michigan consumption climate improves
Michigan – The mood of US consumers improved in July. The consumer climate raised by the University of Michigan rose by 1.0 points to 61.7 points, as the university announced on Friday after a second estimate. Economists had expected a confirmation of the first estimate of 61.8 points.
Roundup/Euro zone: Inflation remains at two percent
Luxembourg – In the euro zone, the inflation rate has remained stable in July. Consumer prices rose by 2.0 percent in the year, the Statistikamt Eurostat said on Friday in Luxembourg, according to a first estimate. Managers had expected a return to 1.9 percent.
Merz: ‘Do everything to get steel industry’
Saarbrücken – Chancellor Friedrich Merz (CDU) is committed to the future of the German steel industry. “We will do everything we can to get steel industry and steel production in Germany,” he said during a visit to Saarland. “Germany will continue to need steel industry, modern steel industry, also towards the green steel industry in the future.”
Roundup/ Eurozone: Industrial mood brightens again
London – The mood in the industrial companies of the euro zone lightened up in July as expected. The shopping manager index (PMI) from S&P Global rose by 0.3 points to 49.8 points compared to the previous month, as S&P announced in a second estimate in London on Monday. This is the highest level in 36 months. Economists had expected confirmation of the initial estimate. Despite the slight increase, the mood indicator remains below the threshold of 50 points, from which he signals an increasing economic activity.
Great Britain: Industrial mood brightens less than expected
London – In the British industry, the mood has lightened up less than expected. The corresponding shopping manager index (PMI) rose by 0.3 points to 48.0 points in July, as the market research company S&P Global announced on Friday in London according to a second estimate. Economists had expected a confirmation of the first estimate of 48.2 points.
Customer notice:
Roundup: You read a summary in the economic overview. There are several reports on this topic on the dpa-AFX intelligence service.
/JSL