FX.co ★ US Manufacturing PMI at Over 3-Year High: S&P Global

In August 2025, the S&P Global US Manufacturing PMI registered at 53.0, a slight decrease from the preliminary estimate of 53.3, yet a significant improvement from July's 49.8. This figure indicates the most robust enhancement in operating conditions observed since May 2022. Production experienced its most rapid growth in over three years, while new orders continued their upward trajectory for the eighth consecutive month. In response, firms intensified their hiring efforts to alleviate capacity constraints, and inventories of finished products expanded at their fastest pace in more than a year. On the cost front, input price inflation surged, marking the second-largest increase in three years, partly attributed to tariffs. Consequently, firms increased output charges to offset rising costs. Despite the prevailing uncertainty, business confidence in future output has shown improvement when compared to July.