{"id":434645,"date":"2026-07-24T20:54:00","date_gmt":"2026-07-24T13:54:00","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-july-flash-sp-global-manufacturing-53-8-vs-54-3-estimate-434645\/"},"modified":"2026-07-24T20:54:00","modified_gmt":"2026-07-24T13:54:00","slug":"the-july-flash-sp-global-manufacturing-53-8-vs-54-3-estimate","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-july-flash-sp-global-manufacturing-53-8-vs-54-3-estimate-434645\/","title":{"rendered":"The July Flash S&amp;P Global Manufacturing 53.8 vs 54.3 estimate"},"content":{"rendered":"<div>\n<ul>\n<li>Prior month manufacturing PMI 53.9 <\/li>\n<li>Prior month services PMI 51.2.<\/li>\n<li>Prior month composite PMI 51.9<\/li>\n<li>Flash\u00a0manufacturing PMI for July 53.8 versus 54.3 expected. This is a 4-month low but remains above the 50 level.\u00a0<\/li>\n<li>Flash services PMI for July 53.6 versus 51.5 expected. Strongest since November 2025<\/li>\n<li>Flash composite PMI for July 53.6 versus 51.9 last month. Strongest since November 2025<\/li>\n<\/ul>\n<p>Chris Williamson, Chief Business Economist at S&amp;P<br \/>\nGlobal Market Intelligence:\n<\/p>\n<p>\u201cUS businesses reported a good start to the third<br \/>\nquarter, the \u2018flash\u2019 PMI survey data broadly consistent<br \/>\nwith GDP growing at an annualized 2.0% against a 1.2%<br \/>\npace signalled for the second quarter. The month saw<br \/>\nan encouraging return to hiring by companies, with<br \/>\nemployment rising for the first time in three months.<br \/>\nHowever, some of this improvement may prove shortlived as July saw hospitality spend boosted by the FIFA<br \/>\nWorld Cup and USA 250 anniversary activities. It was also<br \/>\nworrying \u2013 though not unexpected \u2013 to see manufacturing<br \/>\ngrowth weaken as some of the stock building seen in<br \/>\nprior months showed signs of fading. Instead, July saw<br \/>\na concerning intensification of supply chain delays<br \/>\nand accompanying renewed upturn in price pressures,<br \/>\nconstraining growth and subduing demand.<br \/>\nEvents over recent days in the Middle East will have only<br \/>\nfurther exacerbated these supply chain and price worries<br \/>\nand raise downside risks to the near-term outlook for the<br \/>\neconomy, hinting that July\u2019s upturn may not be the start<br \/>\nof an improving trend.\u201d<\/p>\n<p>Details from S&amp;P global:<\/p>\n<p class=\"PDq2pG_selectionAnchorContainer\">Future Sentiment<\/p>\n<ul>\n<li>\nBusiness confidence improved to an 8-month high overall.\n<\/li>\n<li>Services optimism climbed to its strongest level since September, helped by lower energy prices and improving consumer spending prospects.\n<\/li>\n<li>Manufacturing confidence slipped to its weakest since October, weighed down by:\n<ul>\n<li>\nSoftening demand\n<\/li>\n<li>\nGlobal trade concerns\n<\/li>\n<li>\nTariffs\n<\/li>\n<li>\nGeopolitical uncertainty\n<\/li>\n<li>\nElevated costs\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>Employment<\/p>\n<ul>\n<li>\nEmployment increased only slightly after two months of declines.\n<\/li>\n<li>\nHiring remained cautious in both manufacturing and services.\n<\/li>\n<li>\nHigh costs and trade uncertainty limited hiring, with many firms choosing not to replace departing workers.\n<\/li>\n<li>\nSome businesses continued to report labor shortages.\n<\/li>\n<\/ul>\n<p>Supply Chains<\/p>\n<ul>\n<li>\nSupply chain disruptions worsened further.\n<\/li>\n<li>\nManufacturing supplier delivery times lengthened at the fastest pace since August 2022.\n<\/li>\n<li>\nDelivery delays have now deteriorated for 11 consecutive months.\n<\/li>\n<li>\nMajor drivers:<\/p>\n<ul>\n<li>\nShipping disruptions around the Strait of Hormuz<\/li>\n<li>\nStockpiling of inventory\n<\/li>\n<li>\nTariff-related supply constraints\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>Inflation &amp; Prices<\/p>\n<ul>\n<li>\nInput cost inflation accelerated to its highest level since May 2025.\n<\/li>\n<li>\nHigher costs reflected:<\/p>\n<ul>\n<li>\nElevated energy prices\n<\/li>\n<li>\nHigher shipping costs\n<\/li>\n<li>\nTariffs\n<\/li>\n<li>\nBroad-based supplier price increases\n<\/li>\n<\/ul>\n<\/li>\n<li>\nBusinesses passed more of those costs on to customers.\n<\/li>\n<li>\nOverall selling price inflation reached its highest since August 2022.\n<\/li>\n<li>Services price inflation climbed to its highest level in nearly four years, while manufacturing price inflation remained elevated but eased somewhat.\n<\/li>\n<\/ul>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prior month manufacturing PMI 53.9 Prior month services PMI 51.2. Prior month composite PMI 51.9 Flash\u00a0manufacturing PMI for July 53.8 versus 54.3 expected. This is a 4-month low but remains above the&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-434645","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/434645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=434645"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/434645\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=434645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=434645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=434645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}