Business conditions facing US manufacturers worsened further in August, according to the latest PMI™ survey data from S&P Global. A sharper fall in new orders led to a renewed contraction in output, while firms continued to deplete their backlogged work and stocks of finished goods. Output expectations were the weakest in 2023 so far, reflected in the slowest rise in employment in the sector since January. More positively, supply chains continued to improve and inflationary pressures remained modest despite ticking higher since July. The headline S&P Global US Manufacturing PMI is a composite single-figure ... (full story)