FX.co ★ US Manufacturing Activity Revised Higher: S&P Global

The S&P Global US Manufacturing PMI stood at 53.9 in August 2026 for the third consecutive month, revised up from the flash estimate of 53.2 and in line with initial market expectations. Both output and new order growth moderated during the period. Survey respondents reported higher costs, with input price inflation remaining well above historical norms amid tariff uncertainty and the war in the Middle East, prompting firms to raise their selling prices. These conditions led companies to report subdued client demand, contributing to slower growth in new business. Nevertheless, stronger production conditions led manufacturers to increase their purchasing activity for an eighth straight month. Looking ahead, firms remained optimistic about their business prospects, supporting a further period of employment growth.