The U.S. manufacturing sector is expanding at the strongest pace in four years as output surges, firms add workers, and demand continues to grow, according to a key measure of factory health released Monday.
The Institute for Supply Management’s July barometer of U.S. manufacturing rose to 55.6, the highest since May 2022. This was the seventh consecutive month in which the sector’s reading came in above the threshold of 50 that separates growth from contraction. The reading was higher than economists had forecast.
The employment gauge indicated payroll growth for the first time since September 2023. New orders expanded for the seventh straight month. The measure of production rose to...
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