<\/p>\n
US manufacturing activity expanded in July at the fastest pace in more than four years as demand remained strong, production surged and firms added workers.<\/p>\n
The Institute for Supply Management\u2019s July manufacturing gauge rose to 55.6, the highest since May 2022. Readings above 50 indicate growth, and the sector has now been above that mark for seven consecutive months.<\/p>\n
The gauge for production rose to 58.5, its highest level since late 2021, while the employment measure indicated manufacturers increased headcount for the first time since September 2023. New orders growth \u2014 a sign of demand \u2014 also picked up.<\/p>\n
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The manufacturing sector has gained momentum this year, with factories benefitting from resilient consumer demand, solid business investment and government outlays on defence.<\/p>\n
All but one manufacturing industry reported growth in July, including printing, apparel and electrical equipment. The only sector that reported contraction was chemical products.<\/p>\n
The report reflects a volatile month in the Middle East. The interim peace deal between the US and Iran effectively collapsed, driving up oil prices. After a brief respite in hostilities, fighting in the five-month war flared again toward the end of the month as attacks spread throughout the region.<\/p>\n
Factories continued to face longer lead times on supplier deliveries and rising prices for raw materials. ISM\u2019s prices index fell to 71.1 in July, the lowest in five months but still significantly higher than at the beginning of the year.<\/p>\n
ISM\u2019s gauge of exports for July was the highest since March 2022 and a measure of imports climbed to its best mark since June 2021.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#factory #activity #expands #strongest #pace<\/p>\n","protected":false},"excerpt":{"rendered":"
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