Our Sites

Manufacturing activity rises at slower rate in August

According to the Institute for Supply Management (ISM), manufacturing activity rose in August for the 15th consecutive month, but at a slower rate than in July. The August ISM index was 59 percent, 3 percentage points below the 62 percent reported in July.

An index above 50 means that manufacturing is expanding, while below 50 means activity is contracting.

Although positive overall, the report showed concerns over rising energy costs, higher prices for materials, especially steel, and slowed sales growth. It also showed that new orders, imports, and backlog orders increased in August.

The primary metals industry showed growth in new orders and employment. Fabricated metals showed production growth. Both industries reported growth in export orders and higher inventories.