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Inflation Concerns Surpass Pandemic Levels
A survey of the U.S. manufacturing sector for July showed strong growth, with the index reaching its highest level in more than four years at 55.6 points, indicating economic expansion driven by increased new orders and employment. Despite this positive performance, concerns about inflation remain high, as the price index registered a high of 71.1 points, with prices and delivery times continuing to rise steadily. The data reflect challenges for the Federal Reserve in setting monetary policy, as robust market performance and inflationary pressures may lead to an interest rate hike soon, even though inflation is still well above the 2% target.
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