Following the solid job growth in June, the July report suggests the labor market remains a bright spot for the U.S. economy.
The rate cut is part of an "unexpectedly large" package of measures aimed at stimulating the U.K. economy in the wake of the Brexit vote.
Hosting the Rio Olympics will be a net negative for Brazil's economy, predicts Euler Hermes.
With a 0.4% gain in June, personal consumption has showed strong increases for three straight months and again outpaced personal income growth.
The pace of economic expansion has now been around 1% for three straight quarters but economists see some drags on growth fading.
The decline is the largest in almost two years, with new orders falling most sharply for commercial airplanes and military hardware.
It was the fourth straight monthly gain but food prices dropped 0.3% and inflation remains low by historical standards.
Accelerating gas and food prices drove the U.S.'s producer price index up 0.5%.
“The prospect of such large debt poses substantial risks for the nation and presents policymakers with significant challenges,” CBO warns.
More than half of credit managers are also expecting increased defaults in North America and Asia, an IACPM survey finds.