The S&P Global US Manufacturing PMI rose to 53.3 in August 2025 from 49.8 in July, well above market expectations of 49.5, preliminary estimates showed. The latest reading signaled a renewed improvement of factory business conditions after a brief deterioration in July. August’s reading was the highest since May 2022. Production rose for a third successive month, rising at a pace not recorded since May 2022, buoyed by the largest influx of new orders since February 2024. Factory employment meanwhile rebounded after a decline in July to register the largest payroll gain since March 2022. Inventories of inputs also rose sharply after a drop in July. That left only the suppliers delivery times index acting as a drag on the PMI (reflecting faster deliveries), but to a lesser degree than in July.