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Economy — Trade — Business

US Manufacturing Hits Four-Year High In July

Fifteen of the 16 major manufacturing industries recorded growth during the month, with chemical products being the only sector to contract.

,   and  TIPP Staff
2 min read
US manufacturing activity jumps to more than four-year high in July. Pic via(@business)

U.S. manufacturing activity strengthened significantly in July, with the Manufacturing PMI rising to 55.6%, its highest level since May 2022.

According to the report, the reading marks the seventh consecutive month of expansion and points to continued momentum across the factory sector.

The report said production reached its strongest level since late 2021, while manufacturing employment increased for the first time since September 2023.

Fifteen of the 16 major manufacturing industries recorded growth during the month, with chemical products being the only sector to contract.

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According to the report, several factors contributed to the industry's rebound, including tariffs that encouraged domestic manufacturing, increased investment in artificial intelligence that boosted demand for semiconductors and technology components, and tax changes allowing businesses to immediately expense capital investments.

The latest figures suggest manufacturing has become a stronger contributor to overall U.S. economic growth after several years of uneven performance.

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tippinsightsTIPP Staff

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