The Zhitong Finance App learned that the US manufacturing boom further improved in July and recorded the best performance in more than four years. According to data released by the American Institute for Supply Management (ISM) on Friday, the ISM manufacturing PMI rose to 55.6% in July, up 2.3 percentage points from June, the highest level since May 2022, and is also in the expansion range for the seventh month in a row. ISM said that a PMI that continues to be above 47.5% usually means that the overall economy continues to grow. The July data corresponds to the annualized growth rate of US real GDP of about 2.8%, indicating that the US economy has been expanding for the 21st consecutive month.
Zhitongcaijing · 2d ago
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The Zhitong Finance App learned that the US manufacturing boom further improved in July and recorded the best performance in more than four years. According to data released by the American Institute for Supply Management (ISM) on Friday, the ISM manufacturing PMI rose to 55.6% in July, up 2.3 percentage points from June, the highest level since May 2022, and is also in the expansion range for the seventh month in a row. ISM said that a PMI that continues to be above 47.5% usually means that the overall economy continues to grow. The July data corresponds to the annualized growth rate of US real GDP of about 2.8%, indicating that the US economy has been expanding for the 21st consecutive month.
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