S&P Global Manufacturing PMI Final for July 53.9 vs 53.8 preliminary

S&P Global’s final July U.S. Manufacturing PMI came in at 53.9, matching the prior month and slightly above the 53.8 preliminary reading, indicating continued expansion but with fading momentum. The report flagged slower output growth, softer new orders for a third straight month, weak export demand, intensified supply-chain delays, and elevated input/output prices despite some easing in inflation pressure. Hiring stayed subdued and business confidence fell to its lowest since October 2025, pointing to downside risks for the sector heading into the second half. Markets appeared to look through the cautionary details, with U.S. equities trading higher: the Nasdaq gained about 1%, the S&P 500 rose 0.82%, and the Dow climbed 1.22%, led by strong moves in Microsoft, Amazon, Salesforce, Boeing, and Sherwin-Williams.