US Manufacturing Expands at Fastest Pace Since 2022 on Demand

US manufacturing is expanding at the fastest rate in more than three years on stronger demand that’s also fueling sustained inflationary pressures.

The S&P Global flash August factory purchasing managers index rose 3.5 points to 53.3, the highest since May 2022, according to data released Thursday. Figures above 50 indicate growth.

The pickup in the manufacturing gauge helped lift the composite PMI, which also includes a measure of services, to the highest level this year.

“Companies across both manufacturing and services are reporting stronger demand conditions, but are struggling to meet sales growth,” Chris Williamson, chief business economist ...