Here's your summary from US Factory Activity Shrinks as New Orders Fall (https://www.youtube.com/watch?v=oTYr_PBClOA) on the Bloomberg Television channel:

### TLDR:

US factory activity shrinks as new orders fall, potentially leading to a Fed rate cut later this year.

### Key Points:

1. Manufacturing number drops to 48.7 from 49.2, below forecasted 49.5.

2. New orders decrease significantly to 45.4 from 49.1.

3. Employment number rises to 51.1 from 48.6, potentially impacting Friday's payroll forecasts.

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