The Current Conditions component declined in July, falling to 50.0 from 60.0 in June. Sentiment shifted sharply to one of seeing conditions as “unchanged,” a view held by 40 percent of respondents in June that jumped to 80 percent in July. Meanwhile, the percentage of respondents who said conditions were “better” dropped from 40 percent in June to just 10 percent in July. Similarly, those reporting conditions were “worse” also decreased from 20 percent to 10 percent. Comments reflected mixed sentiment, with many respondents citing uncertainty around market conditions, trade policy, and tariffs. However, some noted steady order volumes and reported being busy.

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