ISM manufacturing index eased to 54.6 per cent in August, an eighth month of expansion
The ISM Manufacturing PMI registered 54.6 per cent in August, 1 percentage point below July's 55.6 per cent, an eighth consecutive month of expansion. New orders fell to 53.7 per cent and employment to 51.2 per cent. Production stood at 58.3 per cent and prices at 71.1 per cent. Susan Spence said the overall economy continued in expansion for a 22nd month. Manufacturing Dive reported Spence naming the Iran war and tariff threats as the chief manufacturing concerns.
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The ISM manufacturing PMI fell to 54.6 per cent and stayed in expansion
The ISM Manufacturing PMI registered 54.6 per cent in August, 1 percentage point below the July figure of 55.6 per cent, and marked an eighth consecutive month of expansion. Susan Spence, chair of the ISM Manufacturing Business Survey Committee, said the overall economy continued in expansion for the 22nd month in a row. Manufacturing Dive reported the same print and wrote that Spence said US manufacturing stayed in expansion but lost ground on new orders, backlogs and imports.[1], [2]
ISM new orders at 53.7 per cent, employment at 51.2 per cent
The New Orders Index fell 3 percentage points to 53.7 per cent and the Employment Index fell 1.6 points to 51.2 per cent. The Production Index slipped 0.2 points to 58.3 per cent, while the Prices Index was unchanged at 71.1 per cent. Manufacturing Dive wrote that new orders came down from 56.7 per cent in July, production from 58.5 per cent, and that prices stayed at July's 71.1 per cent.[1], [2]
Susan Spence named the Iran war and tariffs as the chief concerns
Susan Spence said the Iran war and tariff threats remain the biggest concern for the manufacturing economy. Manufacturing Dive wrote that in August 42 per cent of comments were positive and 58 per cent negative. Pricing volatility appeared in 57 per cent of negative comments, longer lead times in 46 per cent, the Iran war in 30 per cent and tariffs in 29 per cent. Supplier deliveries rose to 59.3 per cent; the backlog of orders fell to 51.8 per cent and imports to 52.5 per cent.[2]
