US ISM Manufacturing PMI rose from 46.8 to 47.2 in August, below expectation of 47.8,, indicates a fifth consecutive month of contraction.
Looking at some details,, new orders fell from 47.4 to 44.6. Production fell from 45.9 to 44.8. But employment rose from 43.4 to 46.0. Prices also rose from 52.9 to 54.0.
ISM said: “The past relationship between the Manufacturing PMI® and the overall economy indicates that the August reading (47.2 percent) corresponds to a change of plus-1.3 percent in real gross domestic product (GDP) on an annualized basis.”
