U.S. manufacturing expanded in August at the fastest pace in more than three years, lifting overall business activity to its strongest level of 2025, according to S&P Global’s flash purchasing managers indexes.
The manufacturing PMI jumped to 53.3 from 49.8 in July, the highest reading since May 2022. Output and new orders both strengthened, pushing backlogs to mid-2022 levels and spurring the sharpest increase in factory hiring in more than two years.
The broader composite output index, which includes services, edged up to 55.4 from 55.1, marking the eighth consecutive month of expansion and signaling momentum in the private sector. S&P…
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