Following 53.3 in June, the ISM Manufacturing PMI climbed to 55.6 in July, the highest reading since May 2022 and considerably above the 54.0 forecast, therefore boosting manufacturing activity in the U.S. Though it stayed high, the study revealed growth for a seventh consecutive month, with general improvement below the surface and the prices-paid index falling to 71.1 from 73.0.
For markets, this is a growth-positive but possibly hawkish statistic that strengthens the idea that U.S. industrial activity is firming, which can be good for the USD and Treasury yields while also adding some pressure on gold and rate-sensitive stocks. Though not enough to change the primary message—that U.S. manufacturing is running hot—the somewhat lower prices-paid reading helps to somewhat allay the inflation concern.


AI is supercharging money scams – here’s what you can do to protect yourself
1 in 3 uni students experience serious financial hardship. Could concession cards for all help?
China’s robots can run faster than Usain Bolt – now they are being prepared for war
Banking scandal rocks Brazil’s politics and the country’s presidential election in October
Big AI wants to slow down AI research. Is it a safety pause or a strategic retreat?
Unsustainable – or manageable? We don’t yet know how data centres will impact Australia’s environment
‘Buy now, pay later’ doesn’t feel like debt. For young people, that can be a big problem
Who should own the knowledge that underpins AI technology? 



