US manufacturing PMI rises to 55.7, highest since May 2022
US manufacturing is on a roll: June 2026 saw activity reach its highest level since May 2022.
The S&P Global PMI climbed to 55.7, beating expectations and marking four straight months of growth (anything above 50 means the sector's expanding).
This surge comes as businesses ramped up orders, trying to stay ahead of supply chain issues and rising costs.
Manufacturing jobs lowest since May 2020
New orders are at their strongest in more than four years, and companies are stocking up more than they have in over a year.
But here's the twist: despite all this action, factory jobs took a hit: the employment index dropped to its lowest since May 2020 as firms cut staff over worries about future demand and expensive materials.
Inflation eased a bit, but supply chain delays are still slowing things down, keeping policymakers busy with ongoing economic challenges.