09152019Sun
Last updateThu, 12 Sep 2019 5pm

Manufacturing & The Economy

U.S. Manufacturing Sector Contracts for First Time in 3 Years

According to the Institute for Supply Management (ISM), manufacturing contracted in August as the purchasing managers’ index (PMI) registered 49.1%, a decrease of 2.1% from the July reading of 51.2%. Any reading below 50% indicates contraction in the sector. This is the lowest reading since January 2016, when the index registered 48%. This ended a 35-month expansion period in which the composite index averaged 56.5%.

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