Home US: Activity in the manufacturing sector expands at a faster-than-expected pace in July – Markit
FXStreet News

US: Activity in the manufacturing sector expands at a faster-than-expected pace in July – Markit

“At 55.5 in July, the seasonally adjusted IHS Markit Flash U.S. Manufacturing Purchasing Managers’ was little-changed since June (55.4) and well above the average since this index began
in May 2007 (52.6),” Markit Economics reported on Tuesday.

Key takeaways from the official publication

  • A relatively strong improvement in manufacturing business conditions reflected robust new order growth, alongside a solid upturn in both production volumes and employment numbers.
  • Survey respondents widely commented on low stocks among suppliers and capacity constraints across the freight industry.  
  • On the inflation front, latest data revealed another  sharp rise in average cost burdens, which manufacturers overwhelmingly attributed to higher raw material prices.
  • Despite concerns about higher input costs and tight  labour market conditions, manufacturing companies remained upbeat about the year-ahead business outlook.  

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.