Global factory surveys for July 2026 show weaker new orders and higher input costs across multiple regions.
What the numbers actually say
Turkey’s manufacturing PMI dropped to 47.1 in June from 49.8 in May, crossing below the 50-point threshold that separates expansion from contraction.
US manufacturing PMI hit 54% in May 2026, a four-year high. Even while that figure was being celebrated, some 42% of US manufacturer survey comments in May referenced the Iran conflict directly, flagging oil price volatility and supply continuity as live concerns.
July data confirms that weaker demand and elevated costs have persisted through the summer, and the breakdown of a mid-July ceasefire has removed the most obvious off-ramp from the situation.
