U.S. Manufacturing PMI Reaches Four-Year High in July
U.S. manufacturing activity expanded for a seventh consecutive month in July, with the Institute for Supply Management’s Manufacturing PMI rising to 55.6%, up 2.3 percentage points from June and its highest level since May 2022.
New orders increased to 56.7%, while the Production Index climbed 6.3 percentage points to 58.5%, its highest reading since November 2021. The Employment Index reached 52.8%, moving into expansion territory for the first time in 33 months.
Input-cost pressure remained elevated. The Prices Index registered 71.1%, indicating raw-material prices increased for the 22nd consecutive month, although the index declined for a third straight month. Resins and resin-based products were among the commodities reported as increasing in price.
The coatings supply chain received a more mixed signal from the Chemical Products category. Chemical Products was the only manufacturing industry that ISM reported in overall contraction in July and also reported declining new orders and employment. At the same time, the category reported increased production, slower supplier deliveries and higher raw-material prices.
The July report gives coatings manufacturers a broader view of industrial demand, labor conditions and input-cost pressure while showing continued softness within the Chemical Products sector. Follow PCI’s Manufacturing coverage for developments affecting coatings production and operating conditions.
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