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“U.S. manufacturing firms signalled a strong improvement in operating conditions in July, despite the headline PMI falling to a five-month low,” IHS Markit said.

Key quotes from the official publication

  • The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index  (PMI) registered 55.3 in July, down slightly from 55.4 in June.
  • Production continued to rise across the U.S. manufacturing sector in July, extending the current sequence of growth that began in June 2016.  
    • Although the rate of expansion was strong overall, it was the slowest since November 2017.  
  • On the employment front,  panellists commonly reported difficulties filling current vacancies, with the rate of job creation softening despite increased pressure on production capacities.
  • The rate of input price inflation accelerated to the third-fastest since March 2012 and was sharp overall.