Manufacturing growth slowed in August
Manufacturing activity slowed considerably in the month of August according to a leading economic index.
The Institute for Supply Management's PMI registered 51.1 percent, a decrease of 1.6 percentage points from the July reading of 52.7 percent.
The August PMI reading is the lowest since May 2013 when the PMI registered 50.1 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
"Comments from the panel reflect a mix of modest to strong growth depending upon the specific industry, the positive impact of lower raw materials prices, but also a continuing concern over export growth," said Bradley J. Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
