The ISM Manufacturing PMI in the U.S. reached its highest level in over four years in July! The employment index returned to the expansion zone as the construction of AI infrastructure continues to drive increasing demand for semiconductors.

According to Zhitong Finance APP, the manufacturing sentiment in the United States improved further in July, marking its best performance in over four years. Data released by the Institute for Supply Management (ISM) on Friday showed that the ISM Manufacturing PMI rose to 55.6% in July, up 2.3 percentage points from June, the highest level since May 2022, and the seventh consecutive month in the expansion zone. ISM stated that a PMI consistently above 47.5% typically indicates ongoing economic growth. The July data corresponds to an annualized growth rate of around 2.8% for the U.S. real GDP, indicating that the U.S. economy has been in expansion for 21 consecutive months.