Manufacturing grows at fastest rate since 2021 amid big job cuts: S&P

AI Summary

Manufacturing in the United States is expanding at its fastest pace since 2021, despite significant job cuts, according to S&P Global. This indicates a divergence in the economy with strong manufacturing growth contrasted by sluggish service sector performance.

S&P Global flagged “an ongoing bifurcation of the economy, with sluggish service sector growth contrasting with an increasingly solid manufacturing expansion.”