Aug. 3 at 2:17 PM
A potentially encouraging macro backdrop for VELO as well as
$SSYS and DDD as I posted earlier:
• U.S. manufacturing activity expanded in July at its fastest pace in more than four years.
• The ISM Manufacturing PMI rose to 55.6, its highest reading since May 2022. (A reading above 50 signals expansion.)
• Demand remained strong, production accelerated, and manufacturers continued adding workers.
• Nearly every manufacturing sector reported growth, with only the chemical products industry contracting.
If this trend continues, it could provide a supportive environment for industrial and advanced manufacturing companies in this space over the coming quarters. We are about a week away from ER so will be interesting to see updates on the new facility expansion!
