(IHS Markit) The US manufacturing PMI was 63.4 in July, an increase from 62.1 in June, the strongest outlook in 14-year history.
Demand signaled by new orders rose in July and foreign demand equally jumped at the fastest rate since 2007 key export market reopening.
The rise in input cost drove inflation to the highest recorded level.
Supplier delays in transportation and the shortage of raw materials kept input inflation up.
The employment index in July was steep, the sharpest in three months driven by manufacturers’ urge to ease their capacity from pending workloads.
The level of optimism among businesses was above the long-run series average though still lower than June’s as manufacturers hope that demand will remain high.
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