Posted September 1, 2022

Manufacturing leveled off in August

Manufacturing activity remained steady in August, with the Institute for Supply Management's purchasing index coming in at 52.8 percent, the same as in July.

“The U.S. manufacturing sector continues expanding at rates similar to the prior two months. New order rates returned to expansion levels, supplier deliveries remain at appropriate tension levels and prices softened again, reflecting movement toward supply/demand balance," said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee.

For a second straight month, the Manufacturing PMI figure is the lowest since June 2020, when it registered 52.4 percent.

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