US ISM Manufacturing PMI jumps to 55.6 in July beating estimates and hitting a four year high

The Manufacturing PMI registered 55.6% in July, 2.3 points above June and the highest since May 2022, with the overall economy expanding for the 21st month running. (PR Newswire) This beat the market forecast of 54, marking the fastest growth pace in more than four years. (FXStreet) Four of five subindexes improved: Production surged to 58.5 from 52.2, Employment moved back into expansion at 52.8 from 49.7 (first expansion in nearly three years), New Orders rose to 56.7, and Backlog of Orders jumped to 55.0, while Inventories slipped slightly and Prices Paid eased to 71.1. (investingLive)