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US ISM manufacturing PMI slips to 54.6 in August
The ISM report showed employment, new orders and order backlogs lost momentum versus July, while prices stayed elevated at 71.1.
The ISM manufacturing PMI for August came in at 54.6, below both the prior month’s 55.6 reading and the 55.2 estimate, according to Forexlive.
The report said manufacturing continued to expand, but the headline index fell as new orders, production, employment and order backlogs all lost momentum compared with July, and imports also slowed.
Forexlive noted the report’s details were mixed, with higher supplier deliveries pointing to slower deliveries and customer inventories rising, leaving inventories less depleted. New export orders improved only marginally.
Prices remained elevated at 71.1, suggesting price pressures did not ease even as overall manufacturing activity slowed from July levels.