ISM: Manufacturing contracted in August
Economic activity in the manufacturing sector contracted in August following five consecutive months of expansion.
The monthly report from the Institute for Supply Management showed that the August PMI registered 49.4 percent, a decrease of 3.2 percentage points from the July reading of 52.6 percent. The New Orders Index registered 49.1 percent, a decrease of 7.8 percentage points from the July reading of 56.9 percent. The Production Index registered 49.6 percent, 5.8 percentage points lower than the July reading of 55.4 percent.