• Factory boom (ISM Manufacturing PMI): In July 2026, the US ISM Manufacturing PMI rose from 53.3 to 55.6 points, marking the fastest growth rate in four years and continuing the sector's expansion for the seventh consecutive month. The employment index, which returned to growth territory for the first time in 33 months, increased from 49.7 to 52.8 points, providing a strong positive signal to the economy. Export orders also turned positive, rising from 48.5 to 53.0 points, along with new orders (from 56.0 to 56.7 points), unfilled orders (from 50.5 to 55.0 points), and imports (from 52.9 to 55.7 points). Delivery times were delayed further, from 57.4 to 58.9 points, due to high demand. Companies' own inventories slightly decreased from 51.4 to 51.2 points, while customer inventories fell from 42.3 to 40.7 points, creating conditions to support future production volumes.
• Services afloat (ISM Services PMI): The US services sector remains resilient, with the Services PMI rising from 54.0 to 54.1 points in July 2026. The main drivers were a sharp jump in the Business Activity index from 55.4 to 59.1 points and an influx of new orders from 55.1 to 57.2 points. Imports also returned to growth territory, rising from 49.4 to 51.8 points, while export orders increased from 50.4 to 52.0 points. Meanwhile, the employment index showed negative dynamics, falling into contraction territory from 51.2 to 47.4 points. 
• Private sector on pause (ADP Employment): In July 2026, private-sector employment growth in the US, according to the ADP report, slowed from 95,000 (revised June figure) to 44,000 jobs, falling short of market expectations and analyst forecasts of 65,000. The main growth came from the services sector, which added 47,000 jobs, driven by education and healthcare (+36,000), while the leisure and hospitality sector lost 11,000 positions. The manufacturing sector saw an overall reduction of 3,000 jobs, primarily due to a decline in natural resources (-6,000). 
• Labor market surprise (Non-Farm Payrolls): The US Bureau of Labor Statistics reported that non-farm payrolls fell by 23,000 in July 2026, against a forecast of 85,000 growth and a previous reading of 20,000. May and June figures were also revised downward by a combined 103,000 positions. Meanwhile, the unemployment rate declined from 4.2% in June to 4.1% in July due to a reduction in the labor force.