02:51 PM EDT, 07/31/2026 (MT Newswires) -- The employment cost index rose 0.9% in Q2 after a 0.9% gain in the previous quarter, reflecting faster wage growth but slower benefits costs growth.

The Chicago PMI rose to 57.6 in July from 56.7 in June, the last regional manufacturing reading for the month. The ISM's national index is due to be released on Aug. 3.

The University of Michigan consumer sentiment index for July was revised higher to 55.2 from the preliminary estimate of 54.4 and was above June's reading of 49.5, but Michigan said that consumers remain concerned about high prices.

Michigan said that inflation expectations were lower in July than in June but were still elevated.

The Q3 GDPnow estimate from the New York Fed is a 2.5%, below the 2.6% gain in the previous estimate.