U.S. ISM survey remains below 50% in July

WASHINGTON (MarketWatch)
The U.S. manufacturing sector remained in a weakened state in July, according to the closely followed ISM index
The index was basically unchanged last month, edging up to 49.8% from 49.7% in June, the Institute for Supply Management said Wednesday
Readings below 50% indicates more manufacturers are contracting instead of expanding
It's the first time the index has been below 50% for two straight months since the end of the last recession in mid-2009
Economists surveyed by MarketWatch had forecast the index to edge up to 50.2%
The new-orders index rose slightly to 48.0% from 47.8% in June, but the employment index fell to 52.0% from 56.6