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Business Boom in July: A Quick Look at the Numbers
USAFriday, July 24, 2026
The U.S. economy experienced a noticeable lift in July, driven largely by heightened spending during the World Cup and Independence Day celebrations. While the services sector surged, manufacturing growth slowed to its lowest pace since March due to companies holding back on inventory buildup amid rising Middle East tensions.
Key Indicators
| Indicator | July Value | June Value | Notes |
|---|---|---|---|
| Services PMI | 53.6 (highest since Nov) | 51.2 | Exceeded expectations of 51.5 |
| Manufacturing PMI | 53.8 | 53.9 | Slight dip tempered composite gain |
| Composite Output Index | 53.6 (8‑month high) | 51.9 | Reflects overall activity |
| GDP Growth (Q3) | ~2.0% | — | Aligned with Q1 forecast |
| New Service Orders | Fastest since Nov | — | Strong demand signal |
| New Factory Orders | 4‑month low | — | Indicates manufacturing strain |
Takeaway
While July shows a positive turn for the U.S. economy, particularly in services, recent geopolitical tensions and manufacturing headwinds pose risks to near‑term growth. The upcoming second‑quarter GDP estimate will further clarify whether this momentum sustains.
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