US manufacturing activity hits more than four-year high; input prices elevated - Reuters
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- ISM Manufacturing PMI registered 55.6% for July 2026, marking a more than four-year high in US manufacturing activity.
- Input prices remained elevated alongside the activity surge, with a separate manufacturing survey describing inflation worries as 'worse than pandemic era' and adding pressure to the Federal Reserve.
Why it matters: A PMI of 55.6% signals clear manufacturing expansion while survey respondents call inflation 'worse than pandemic era,' putting the Federal Reserve in a tighter spot — strong activity supports the economy but sustained input-price pressure complicates any pivot toward rate cuts.
