U.S. Manufacturing has shown an expansion that hasn’t been seen since 2022, right when the world was recovering from the Covid shutdowns. The Institute for Supply Management showed only one of its 16 industrial categories, chemical production, was contracting. In July, U.S. manufacturing reached 55.6 according to the ISM’s ratings, a level not seen since May 2022.
American Manufacturing Expands At Fastest Pace Since 2022– www.breitbart.com
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The U.S. manufacturing sector is expanding at the strongest pace in four years as output surges, firms add workers, and demand continues to grow, according to a key measure of factory health released Monday.
The Institute for Supply Management’s July barometer of U.S. manufacturing rose to 55.6, the highest since May 2022. This was the seventh consecutive month in which the sector’s reading came in above the threshold of 50 that separates growth from contraction. The reading was higher than economists had forecast.
The employment gauge indicated payroll growth for the first time since September 2023. New orders expanded for the seventh straight month. The measure of production rose to its best reading since late 2021.