The latest S&P Global Market Intelligence report showed the Composite PMI rising to 52.2, a positive sign for the economy. Manufacturing continues to be one of the strongest sectors, and it is an area we should continue to support and expand in the United States.
One way to strengthen manufacturing is by encouraging entrepreneurship and startup activity. New businesses often drive innovation because they can move quickly, adapt to changing conditions, and develop new products and services. Over time, these smaller firms can grow into larger companies that help replenish and revitalize industries as part of the natural cycle of economic development.
The report also highlights an important trend: manufacturing output is growing, but employment in the sector is declining. Much of this is due to technological advancement and automation. This does not mean technology is a problem. In fact, embracing technology is essential for maintaining competitiveness. At the same time, it is important to invest in workforce development so people can acquire new skills, adapt to changing job requirements, and maximize their employment opportunities.
Human creativity remains one of our most valuable assets. While machines can improve efficiency and productivity, innovation often begins with people who generate new ideas, solve problems, and create businesses. That is why investing in human capital, encouraging entrepreneurship, and ensuring that individuals can benefit from their efforts are so important.
Of course, this leads to broader discussions about income distribution, wealth creation, and economic opportunity. If people feel they have fewer opportunities to succeed, it may reduce engagement and limit future economic growth (May is the term here because one can simply watch and see what happens over a long period of time. Generally if a trend started a few years ago you will see some hints but it might take a number of years to truly form as an identifiable issue. Economy and Needs) Those are important conversations, but they extend beyond the scope of this report.
Inflation also continues to create challenges by increasing costs for businesses and consumers. This is not just a U.S. issue; many countries are facing similar pressures.
Economic indicators such as the PMI are valuable because they provide an early look at business conditions and market trends. By monitoring reports like these, we can better understand where the economy is headed and identify opportunities and challenges before they become more apparent in other economic data.
U.S. Business Growth Improves in June, but Employment and Inflation Concerns Persist
S&P Global Market Intelligence. (2026, June 23). S&P Global U.S. Flash PMI®: June 2026. S&P Global. https://www.spglobal.com/marketintelligence/en/mi/products/pmi.html
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