Updated: 01-Sep-23 10:31 ET
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Updated: 01-Sep-23 10:31 ET |
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Highlights
- The August ISM Manufacturing Index rose to 47.6% in August (Briefing.com consensus 46.7%) from 46.4% in July.
- The dividing line between expansion and contraction is 50.0%. The sub-50.0% reading for August reflects a general contraction in manufacturing activity for the tenth straight month, albeit at a slower rate than the pace of contraction in July.
Key Factors
- The New Orders Index dipped to 46.8% from 47.3%.
- The Prices Index rose to 48.4% from 42.6%.
- The Backlog of Orders Index jumped to 44.1% from 42.8%.
- The Supplier Deliveries Index increased to 48.6% from 46.1%.
- The Production Index rose to 50.0% from 48.3%.
- The New Export Orders Index edged higher to 46.5% from 46.2%.
- The Employment Index increased to 48.5% from 44.4%.
Big Picture
- The key takeaway from the report is that manufacturing demand remains soft, yet conditions in the manufacturing sector, slow they may be, appear to be stabilizing.
Category |
AUG |
JUL |
JUN |
MAY |
APR |
Total Index |
47.6 |
46.4 |
46.0 |
46.9 |
47.1 |
Orders |
46.8 |
47.3 |
45.6 |
42.6 |
45.7 |
Production |
50.0 |
48.3 |
46.7 |
51.1 |
48.9 |
Employment |
48.5 |
44.4 |
48.1 |
51.4 |
50.2 |
Deliveries |
48.6 |
46.1 |
45.7 |
43.5 |
44.6 |
Inventories |
44.0 |
46.1 |
44.0 |
45.8 |
46.3 |
Export Orders |
46.5 |
46.2 |
47.3 |
50.0 |
49.8 |
Prices paid (not seas adj) |
48.4 |
42.6 |
41.8 |
44.2 |
53.2 |