According to a White House announcement, U.S. manufacturing activity in July saw its strongest expansion in over four years, fueled by surging demand, record production, and new hiring. The Institute for Supply Management (ISM) Manufacturing PMI indicates the sector has expanded for the seventh consecutive month, with new export orders firmly back in expansion. The Federal Reserve confirms widespread growth in manufacturing activity, payrolls, and wages, with manufacturing wages climbing 4.2% year-over-year. The Philadelphia Fed survey shows general activity and new orders at nearly five-year highs.