American Manufacturing Surges to Highest Level in More Than Four Years
By Kevin Killough | Just the News
Growth was seen in fifteen manufacturing industries, including electrical equipment, appliances and components, primary metals, transportation equipment, machinery as well as computer and electronic products. Activity in the technology sector was driven by the artificial intelligence buildout.
U.S. manufacturing activity increased to its highest level in more than four years in July driven by strong order growth, according to data from the Institute for Supply Management.
The Manufacturing Purchasing Managers' Index increased to 55.6 last month from 53.3 in June, which was the highest since May 2022. Economists polled by Reuters had projected PMI would grow to 54.
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